Finland-based stainless steel producer Outokumpu has welcomed the European Union’s new steel safeguard measures, saying the updated framework offers stronger protection against global overcapacity, unfair competition, and carbon leakage.
According to the company, the new system includes:
- Quota volumes reduced by around 47% compared with 2024 levels
- 50% tariff on imports exceeding quota limits
Outokumpu said European steelmakers continue to face pressure from:
- Weak regional demand
- Low-priced imports from Asia
- Existing US tariffs on steel imports
- Circumvention of current trade measures
The company also backed the inclusion of the “melted and poured” principle, which determines origin based on where steel is produced, aiming to improve traceability and reduce circumvention.
Outokumpu added that while the EU Carbon Border Adjustment Mechanism (CBAM) is helpful, safeguard measures remain necessary to protect regional production.
VietnamSteel by Hoa Sen Group
