EU: AC findings on stainless steel published
EU: AC findings on stainless steel published

7 May 2024 – The EC today announced the final decisions in the ongoing anti-circumvention proceedings against stainless steel from Indonesia via Turkey, Vietnam and Taiwan. And once again demonstrated its technical incompetence. Further growth signals are coming from the eurozone that point to a sustained upturn. And stainless steel is becoming increasingly scarce in the EU. Industrial companies are looking for alternative sources of supply.

EU: AC findings on stainless steel published

With the final decision published today regarding the two anti-circumvention proceedings against cold-rolled stainless steel from Indonesia via Taiwan, Turkey and Vietnam, the EU Commission has once again proven that it is not even technically capable of correctly applying its own circumvention rules.

‘When an EC equates the cold rolling of stainless steel with the assembly process of an IKEA shelf, we should start to realise whose brainchildren are up to mischief in Brussels!’ said Thorsten Gerber, CEO of the Gerber Group today.

Furthermore, the deliberate scaremongering of a well-known Dutch service centre at this year’s Wire and Tube in Düsseldorf will hopefully have been caught out in this desperate attempt to persuade customers to buy only from them.

Growth signals in the eurozone: upswing ahead!

In the eurozone, producer prices fell by 7.8% year-on-year in March, mainly due to a 20% slump in energy prices. Excluding energy, they fell by 1.3%. This marks the eleventh month of falling producer prices.

The Purchasing Managers’ Index therefore continues to show optimism: it climbed to 51.7 points in April, indicating growth. According to an assessment by Deutsche Bank, the ECB could soon cut interest rates, which should further boost the economy.

EU: Stainless steel is becoming increasingly scarce

The delivery delays for stainless steel from European production are getting longer and longer. Bottlenecks are occurring not only for flat-rolled products, but also for long products where there is a shortage of raw materials.

Industry is looking for alternative suppliers

As a result, more and more domestic industrial companies are looking for alternative sources of supply in order to meet the revitalising demand. According to current media reports, an improvement in supply from EU stainless steel manufacturers is not to be expected in the short term.

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