14 February 2023 – Once again, a complaint by the European Court of Justice against an anti-dumping measure on flat-rolled stainless steel imports has been rejected by the competent chamber. Does the EU only care about its mega corporations? HRC prices in Europe are rising. Logistical difficulties for Asian steel imports from Turkey. And data from the United States point to recovery.
Once again, case against EU stainless steel anti-dumping measure is lost
That importers are regarded as second-class employers by the European Commission and also by the European courts is unfortunately a sad fact. This is illustrated once again by the recently lost case against the anti-dumping measure against flat-rolled stainless steel imports from India and Indonesia of the European Association of Non-Integrated Metal Importers & distributors (Euranimi).
The association had filed an action against the anti-dumping measure at the European Court of Justice in spring 2022. The action has now been dismissed as inadmissible by the competent chamber on the grounds that Euranimi lacked jurisdiction. In the recent past, other cases against market protection measures before the European Court of Justice had also been dismissed or failed in favour of the European steel and stainless steel mills.
Level Playing Field not for everyone?
This is yet another sign that the rules and the much-vaunted level playing field of the European Commission do not apply to everyone and that the protection of domestic jobs and companies in the raw material trade is only important for the friends and lobbyists of the European manufacturers.
Thorsten Gerber, CEO Gerber Group, said today: “The Ministers of Economics of the EU Member States, above all the German Federal Minister of Economics Robert Habeck, should start to focus again on the backbone of the European economy instead of exclusively ensuring that mega corporations like thyssenkrupp burn the next tax billions as subsidies in their outdated blast furnaces.”
Steel prices rise in Europe, HRC from Turkey in short supply
European prices for HRC continue to rise. Since the end of January 2023, they have increased by about 5%. In addition, we are receiving reports that there are difficulties in the procurement of HRC from Turkey. Due to the severe earthquake in the border region between Turkey and Syria, logistical connections to parts of Asia seem to have been interrupted. This is already having an impact on availability.
USA: Economic outlook brightens up
Yesterday we reported on the positive consumer sentiment in the United States. Now, according to Deutsche Bank, the economic outlook for the USA has also improved recently. This fuelled hopes for a “soft landing” by the Fed. The surprisingly strong labour market report is the latest indication that the US economy could be spared a hard recession.
U.S. steel prices rise
Rising HRC prices are also reported across the board in the United States, supporting the positive market environment in terms of demand.
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.