In order to support the stability of the EU steel market and at the same time ensure smooth supply, the European Steel Association (EUROFER) has decided to support the continued implementation of steel safeguard measures.
In addition, the quota volume was increased from 3% to 4%, pushing quota levels well above demand conditions. However, EUROFER Director General Axel Eggert said such growth was not economically necessary.
The European Commission has now extended the EU safeguards until June 30, 2024, covering 26 steel product categories.