EU’s removal of Brazil steel quotas likely to hurt Chinese exporters

SHANGHAI, Aug 21 (SMM) – Chinese steel exporters are likely to be affected by the recent decision by the European Union to remove Brazilian stainless steels and steel profiles from its proposal for adjustments to the existing safeguard measures on steel imports in the EU market, SMM believes.

The safeguard withdrawal is expected to increase the presence of Brazilian steel in the European market. Data showed that 18.1% of Brazil’s exports of stainless steels and steel profiles entered Europe in 2018.

China exported 360,000 mt of stainless steel to the EU in 2018, accounting for 9% of the total.

Aside from potentially greater competition from Brazil, Chinese steel exporters also face anti-dumping investigation in the EU market.

The European Commission earlier this month initiated an anti-dumping investigation into imports of hot rolled stainless steel sheets and coils from China, Indonesia and Taiwan.