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Economic and steel market outlook 2019-2020, second quarter
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Final figures for 2018 show that the EU28 steel market grew by 3.3%. The preliminary safeguard measures could not prevent third country imports from rising by 12.6% and, as a consequence, local steel producers being flattened by deflected and cut-price steel products from outside the EU.
Meanwhile, the relaxation of the final safeguard measures – with an enlargement of 5% in February this year with another upwards revision of 5% scheduled for July – is completely out of step with the anticipated decline of the EU steel market in 2019. As such, the 10% increase in import quota allowed in the final safeguard measures risks squeezing the EU steel sector, as it will be exposed to rising import pressure in a depressed market.
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