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Speaking at the European Steel Day in Brussels on Thursday May 15, the new president of the European steel association, who also executive vice president of ArcelorMittal Europe, called for a quicker and more efficient response to trade concerns.

“For someone with the intention to dump into the USA, it is much more difficult," he said. "The speed of a case is much higher – they are able to act [quickly]; people know after a month-and-a-half when there is a serious case,” he said.

“In Europe, reactivity is a multiple lower than in the USA, so there is room for improvement. In Europe, time is always against us,” he added.

US steel prices have been strengthening recently, while European steel prices are still at a low level.

Steel First’s price assessment of domestic hot rolled coil (HRC) in Northern Europe stands at €440-450 ($603-617) per tonne ex-works, compared with domestic HRC prices in the USA of $690 per short ton.