On Friday, June 18, 2021, the possible extension of EU Safeguard on certain steel products moved a step closer. The majority of EU member states voted in favor of a three-year extension. This is already being portrayed by the major EU steel producers and parts of the trade press as a major coup. At the same time, EU steel consumers are being talked down.
EU member states vote for Safeguard extension
The EU member states announced on June 18 via a spokesman that they support the European Commission’s decision to extend the Safeguard measures, which expire on June 30, 2021. However, this does not mean that a final decision has been made. This will be finalized by the EC.
Steel-consuming industry is being talked down
Parts of the so-called trade press are already celebrating the Safeguard extension and presenting it in an extremely positive light. At the same time, they are trying to play down the large number of companies and associations that have campaigned for an end to the EU Safeguard measures and portray them as unimportant.
This raises the question of how independently these “media” still report or whether their reporting is influenced by advertising budgets already sold by major EU players.
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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.
