UK steel suppliers could see increasing demand in the coming months, amid rumours that the EU is set to impose new import duties on supplies from overseas.
In particular, steel coming into the EU from China has been sold at unfairly low prices in recent months, according to the European steel producers association Eurofer.
Now two separate unnamed sources have told Reuters of a European Commission proposal to set new sanctions on Chinese steel coming into the EU.
“The Commission will present its proposal to EU member states next week and, by March 26th, will put in place the duties, which are provisional pending the outcome of an investigation due to end in September,” Reuters reported.
Any such sanctions are likely to lead to a substantial increase in demand from UK steel suppliers, and could see domestic prices increase accordingly.
It is therefore sensible to place any orders now for work upcoming in the spring and summer months, regardless of the outcome when the investigation concludes in September.
Meanwhile, UK steel stockists will of course continue to work hard to maintain supplies at reasonable market prices, whether they are obtained from domestic manufacturers or imports.