Kallanish Steel Weekly: European steelmakers fear safeguard measures will end in June 2024

Kallanish Steel Weekly: European steelmakers fear safeguard measures will end in June 2024 (Aug. 22, 2023)

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German steelmaker Salzgitter said recently that the extension of EU safeguard measures beyond their current, end-June 2024 expiration deadline is unlikely.

“It will then be possible to import steel products into the EU market from July 1, 2024 onward without any restrictions by tariff quotas, which will likely drive up import volumes,” the steelmaker said in its second-quarter earnings report.

EU steelmakers have in recent months voiced fears over the potential expiration of safeguard measures in mid-2024, with the EU’s Carbon Border Adjustment Mechanism (CBAM) due to come into full force only on 1 January 2026. This would leave an 18-month gap that would see the EU’s market unprotected.

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Kallanish Steel Weekly: European steelmakers fear safeguard measures will end in June 2024 (Aug. 22, 2023)

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