Italian Steel Association Federacciai Backs EU Safeguard Extension
EU Steel SafeguardTeller Report

Italian Steel Association Federacciai Backs EU Safeguard Extension

Local media reported that Italian steel producers association Federacciai has defended the proposed extension of the EU safeguard measures on steel

Local media reported that Italian steel producers association Federacciai has defended the proposed extension of the EU safeguard measures on steel imports. Federacciai said “Considering the cause of the European defense measures adopted to be a response to the incorrect or distorting behaviour of the international markets or to mere speculation appears misleading as well as clearly wrong, as easily demonstrated by the numbers available. Renewal of the safeguard is an act due to the persistence of the distortive protectionist measures imposed by the United States and cancelling this measure now would be irresponsible. This scenario puts the entire supply chain in difficulty, subject to the imbalance between supply and demand and the sharp increases in the price of raw materials, starting with iron ore and scrap, situation made even more difficult by the explosion of logistics costs.”

Federacciai added “Also given the indisputable fact that none of the import quotas of individual products has reached saturation since the beginning of the year and therefore the European safeguard has absolutely not prevented the free import of steel products in this phase of economic recovery.”

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