Outokumpu supports EU steel industry safeguard measures
Steel company Outokumpu has welcomed the agreement reached by the European Commission, Parliament, and Council on new safeguard measures for steel products. The measures are set to take effect on July 1, 2026.
Helsinki – Outokumpu Oyj has expressed support for the agreement finalized by the European Commission, Parliament, and Council concerning safeguard measures for the steel industry. The new measures are slated to enter into force on July 1, 2026, replacing the current regulations which expire on that date.
The agreement stipulates a reduction in import quotas by approximately 47 percent compared to 2024 levels, with an increased out-of-quota tariff of 50 percent. The Commission will also assess the potential to expand the scope of these measures to include additional steel products, such as tubes and pipes, within six months of the regulation's implementation.
Outokumpu views the new safeguards as crucial for protecting the European steel sector from global overcapacity and unfair competition. The company indicated that European steel production capacity utilization has declined due to low demand and significant volumes of low-priced imports from Asia. Outokumpu emphasizes the need for fair trade practices.
The agreement also supports the 'melted and poured' principle for country of origin to enhance supply chain transparency and prevent circumvention. Outokumpu backs this requirement, suggesting that origin verification should be conducted using established methods, such as mill test certificates.