European steel market counts on protection from imports from Canada and Egypt

European market participants expect Canada and Egypt to be the next countries to take protective measures on steel imports.

This will have implications for trade with the EU, and some expect similar measures that have already been introduced by the EU and Turkey.

Canada may also launch anti-dumping investigations for some product groups, one steelmaker said.

EU countries exported 579,800 tonnes of steel to Canada in 2017, most of which were heavy sections - and 474,500 tonnes to Egypt, of which nearly 130,000 tonnes was hot rolled strip and 70,500 tonnes was square.

Exports to these destinations are up this year after the EU opened access to US markets in March with a 25% cap.

Market participants expect preliminary data on the defensive investigation to be published by the European Commission in late November - early December, and final measures to be taken no later than early February. The measure is likely to be in part in the form of individual quotas at the country level.