Steel demand in the European Union has been gradually improving thanks to the recovery in the industrial production and increased investment in the metals industry. Steady growth in steel demand during the first half of 2017 was strongly supported by the active performance of the construction, automotive and the mechanical engineering sector.
Earlier this year the European Commission announced new anti-dumping duties on pipes and tubes made from steel and iron in China and Taiwan. The new duties, which should provide a boost for the EU markt, were imposed following an investigation that found that Chinese firms were dumping cheap steel into the EU market. Chinese exports will face anti-dumping duties ranging from 30.7% to 64.9% while 5.1% to 12.1% tax will be charge for the Taiwanese exports.