The European steel industry push to take vigorous action against imports from China. There will be a high-level summit to be held in Brussels to discuss the future of European steel industry.
Ministers Union (EU) member states will meet to discuss the serious situation facing the European steel producers (British steel plant closed down one after another to highlight this point), as well as ways to enhance competitiveness. Industry Delegates request immediate action against unfair trade steel products, especially steel products from China. Delegates said that Chinese steel products are earning market share by comparative low price which gives European steel companies exerted tremendous pressure.
Currently, the European demand for steel is even 25% lower than pre-crisis levels. The Eurofer Director, Axel Eggert said:" if this continues, we will see more factory closures. In Europe, the steel demand is moderate growth, but the new demand has entirely taken by imports. We need a fair competitive environment with our competitors. EU should consider the use of all available trade tools to create a fiar trade enviroment."