Outokumpu has outlined its support for the agreement reached by the European Commission, Parliament and Council regarding the next set of steel safeguarding measures.
The new system will reduce quotas by approximately 47% compared to the 2024 quotas and increase the out-of-quota tariff to 50%.
CEO of Outokumpu, Kati ter Horst, said: “Outokumpu believes that the new safeguard measures will further protect the European steel industry from global overcapacity, unfair competition and carbon leakage.
“Low demand, coupled with a high share of low-priced imports from Asia and 50% tariffs in the United States, has led to a decline in capacity utilisation by European producers.
“We are in favour of free trade, but it must be fair, which has not been the case with heavily subsidised imports of the steel industry from Asia into Europe and the circumvention of existing safeguard measures. European stainless steel has the smallest carbon footprint in the world. While the Carbon Border Adjustment Mechanism evens out the situation, safeguards are also needed.”
Outokumpu also supports introducing provisions on the ‘melted and poured’ principle to prevent circumvention and increase supply chain transparency.
These measures will come into force on 1 July 2026, when the current measures expire.
