European steel rerollers: EU sanctions on Russian semi-finished products to put European rerolling business at risk
3 Oct 2022 15:25 reported by Ana Lee
Nine major companies, including European steel re-rollers and distributors, have sent a joint letter to the European Commission on September 27, emphasizing that if the potential import ban on semi-finished steel, such as Russian slab, billet, and bloom, is implemented, it would put the European rerolling business at risk.
The letter was in response to a letter from some European steel producers to the European Commission calling for sanctions on Russian imports of semi-finished products.
According to the letter, more than 80% of EU steel semi-finished products come from Russia and Ukraine. Now because of the temporary shutdown of Ukrainian steel mills, the EU has no alternative producers to replace the supply.
If the EU bans the import of Russian semi-finished products, EU rerollers will have no choice but to drastically reduce production levels at their facilities or, at worst, shut down operations, which will lead to job losses and price spikes.
Back to Steel News