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EU to impose provisional safeguards to protect electrical steel from imports
BRUSSELS/ FRANKFURT: The European Union will impose a set of import quotas and minimum prices for electrical steel and downstream products, it said on Friday, in a bid to shield the EU from cheap imports, principally from Asia. The move will benefit Thyssenkrupp’s steel unit TKMS and Poland’s Stalprodukt SA, among the last European producers of electrical steel, which is used in wind turbines and power grids. To keep production in Europe going, the EU will establish ‘safeguards’ in the form of quotas for grain-oriented electrical steel (GOES), as well as laminations and transformer cores conta...
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