The European Steelmaking Lobby Group says rising global trade barriers are a major threat to the ASTM A283 C etc. steel industry. Although European steel demand is expected to remain strong, trade frictions with the United States have created market distortions.
The European Iron and Steel Union (Eurofer) said in a statement that the region expects Europe's own tariff defense system to work soon. The association said that the possibility of US tariffs on EU auto exports could also affect the ASTM A283 C etc. steel industry. "Trade tensions may significantly disrupt market equilibrium and demand in the economic field may also slow down." With the weakening of corporate earnings season, ASTM A283 C etc. steelmakers are increasingly worried about trade. The shares of Limited by Share Ltd and VoestalpineAG fell sharply on Wednesday after the announcement of earnings.
The Austrian Steel Federation says trade flows are being disrupted by protectionist policies, and the EU's new automotive regulations hurt demand in the automotive industry. In the second quarter, EU steel demand increased by 4.4%, domestic delivery rate increased by 3.7%, EU steel imports increased by 9.8%, and imports accounted for 25% of its ASTM A283 C etc. steel consumption. EU steel demand is expected to grow by 2.2% in 2018 and 1.1% in 2019.
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