In August 2015, there are many media has reported that the Chinese steel products manufacturers and exporters have cut the steel export prices due to the sharp devaluation of the RMB. German Iron and Steel Federation said that the Chinese economy devaluation indicates a deeper economical structure and industrial structure problems. These problems supports our concerns that Chinese steel exports quantity will remian at a very high level, and it will continues to threaten the recovery of Europe steel market. 

Currently, the European demand for steel is even 25% lower than pre-crisis levels. The Eurofer Director, Axel Eggert said:" if this continues, we will see more factory closures. In Europe, the steel demand is moderate growth, but the new demand has entirely taken by imports. We need a fair competitive environment with our competitors. EU should consider the use of all available trade tools to create a fiar trade enviroment."