POST Online Media Lite Edition


Finnish steel buyers fear shortage of steel, higher prices

Staff Writer |
Finnish industries fear a shortage of steel and higher prices may occur as a result of the possible EU actions on imports from China and some other countries, local media reported.

Article continues below

Business Daily Kauppalehti quoted buyers of steel as saying the price level for the end users has risen drastically and there have been problems in availability.

Unnamed Finnish steel buyers told Kauppalehti the companies that need steel "pay the highest price for the protection of European steel industry" as they are at the end of the chain.

They said a shortage is intolerable in the situation when factories using steel are working at full capacity. The EU should choose a middle-of-the road line in its penalty tariffs, they said.

Kauppalehti analyst Ilkka Sinerva reported that the increased tariffs targeting the imports of hot rolled coil steel have caused price increases in the whole production chain.

Forty percent of hot rolled coil used in the EU area is being imported from outside the EU and the European Economic Area (ETA).

Also the price of rebar steel, used in concrete construction industry, has increased.

What to read next

India mulls local steel requirement for $59bn infrastructure spend
Steel industry calls for EU action on Chinese imports
China crude steel output up 4.6 percent in Q1