Brexit could benefit EU steelmakers: Polish steel head
The UK’s proposed exit from the EU, or Brexit, could have a positive impact on steel production in the EU as the UK has traditionally given more support to distributors and importers than steelmakers. This is according to Polish Steel Association (HIPH) head Stefan Dzienniak.
Publically, the UK is supportive of producers, especially since last year when some of its mills ran into trouble, “…but when it came to work on concrete measures to protect the European market from cheap steel from other continents, the UK was usually against,” Dzienniak tells Wirtualny Nowy Przemysl.
Brexit “… could mean the remaining EU countries agree a common position more easily, and at least speed up the abolition of the Lesser Duty rule which makes the imposition of anti-dumping duties ineffective because their margin is significantly lower than the injury caused by imports,” Dzienniak says in the interview monitored by Kallanish. The UK has hitherto blocked the lifting of this rule.
The impact of Brexit on Poland’s steel industry will be minimal, however. In 2015 the UK supplied 95,500 tonnes of steel to Poland, with 36,600t going in the opposite direction.
European producers’ association Eurofer said last week Brexit would damage the UK steel industry’s export sales to international downstream customers (see Kallanish 21 June).
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Anonymous
Very good overview of the weekly steel market.
Anonymous