The European Steel Association (Eurofer) concurred with the European Commission (EC)'s decision to continue the implementation of steel safeguard measures, which will promote steel markets stability and ensure a stable supply of products in the EU.

The EC recently conducted an annual review of steel safeguards and suggested the World Trade Organization (WTO) maintain this measure for another two years, and they also adjusted global quotas based on the effects of the Russo-Ukrainian War.

The Eurofer stated that the quota was expanded every year, which was raised to 4% from the previous 3% this time, pushing the quota higher than the current demand level, and they also emphasized the steel demand has not recovered from the epidemic.