Anti-circumvention: EC impresses with cluelessness
Anti-circumvention: EC impresses with cluelessness

6 March 2024 – The preliminary results of the European Commission’s anti-circumvention investigations into stainless steel from Indonesia via Taiwan, Turkey and Vietnam once again show the EC’s almost criminal cluelessness with regard to the production and processing of steel and stainless steel. And Europe’s industry is flying high: shares are booming thanks to economic optimism!

Anti-circumvention: EC impresses with cluelessness

The preliminary findings of the European Commission in the anti-circumvention investigations against stainless steel from Indonesia via Taiwan, Turkey and Vietnam once again show the EC’s already criminal lack of understanding with regard to the production and processing of steel and stainless steel.

EC has not provided any valid evidence

Also, instead of making a correct and reasonable calculation of the price increases since the original anti-dumping and anti-subsidy investigations, they simply resorted to simple basic maths and used statistical data such as the European Producer Price Index to practice a little multiplication.

Black Swan year instrumentalised

Whereas a Black Swan year, which the EC had already excluded as a justification in other investigations, is likely to have been used as the basis for calculating the notorious added value in these proceedings. But no evidence or data basis was provided for their own calculation.

Cold rolling no longer more than screwdriver factories

It therefore remains to be said for the time being that the EC, in its cluelessness, has currently put cold rolling mills on a par with screwdriver factories, for which anti-circumvention procedures were originally introduced. And has once again remained true to the most important criticism levelled at the EC in recent years, namely that it is no longer concerned with the defence against genuine circumvention of anti-dumping and countervailing measures, but only with the fight against emerging economies and their industries. Market liberalisation looks different.

Europe’s industry is soaring: shares are booming thanks to economic optimism!

Industrial stocks outperform the market

In the last three months, European industrial stocks have clearly outperformed the STOXX 600 – with a lead of almost seven per cent! Investors are focussing on industrials, convinced by the strong global economy and impressive company forecasts.

Dreams of the future: more profit expected

From wind energy to electrical engineering – companies are promising strong sales growth for 2024 and experts believe that profit growth of almost six per cent is realistic.

Energy costs down, export opportunities up

Energy prices have fallen by over 60 per cent since the beginning of the year, while the economic outlook in China and the USA – the main customers for German exports – is bright. The IMF has revised its growth expectations for these countries upwards.

Global economy defies concerns

Despite earlier fears, the global economy is developing better than expected. With over eight trillion dollars at their disposal, companies and investors are in a buying mood – technology, energy and finance in particular are booming.

The signs are pointing to growth: industrial shares are on course for success, supported by lower energy costs and strong global growth prospects.

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