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ACEA: EU’s intention of extending steel safeguards disregards automotive industry’s interests

16 Jun 2021 15:20 reported by Joy Liu

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The European Automobile Manufacturers’ Association (ACEA) expressed its disappointment about the European Commission’s intention to extend steel safeguard measures, claiming that the continued adoption of safeguard measures meant the disregard of the interests of downstream steel consumers, such as the automotive industry, due to the current shortages of raw material.

The ACEA said that the safeguard measures have limited manufacturers’ ability to ease steel shortages in the European market through importing. Besides, the steel prices in the European market have been surging to record highs.

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