EU safeguard steel measures expected soon

The EU will announce its safeguard measures in regards to steel imports on July 18.
Insiders say it will be a quota based on imports over the last three years. Although demand is rising it means only a limited volume would fall under the 25% duty level. The problem, however, is the price effect this will have on the market. If steel prices in the EU show the same increase as in the US (about 30%), costs for steel users, especially auto manufacturers, will soar.

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