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Eurofer ups EU steel demand forecast, warns on 'disastrous' U.S. tariff plan

FILE PHOTO - Steel rolls are pictured at the Renault SA car factory in Flins, near Paris, France, February 23, 2017.

European steel association Eurofer raised its 2017 EU steel demand forecast on Monday but said isolationist measures such as a U.S. plan to levy steel tariffs on national security grounds could be disastrous for global trade flows.

Eurofer said apparent EU steel demand, which includes inventory changes, will rise 1.9 percent this year to 159 million tonnes. It previously forecast demand, seen as a gauge of regional economic health, would rise 1.3 percent in 2017.

Despite the raised forecast, the association issued its starkest warning yet about potential import distortions, saying regions mills could again fail to benefit from demand growth and instead lose market share to imports.

"With no structural solutions for the underlying problem of global overcapacity in sight, the number of protectionist and...


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