S.Korean steel producers tumble as EU countries back measures to limit steel imports

Seah Steel Holdings

09/07/2018 01:57

** Shares of South Korean steel producers fall; sub-index
for iron, steel and metals  .KS34  down 3.2 pct
    ** European Union countries voted on Thursday in favour of
provisional measures proposed by the European Commission to curb
steel imports into the bloc, following a U.S. decision to slap
tariffs on EU steel and aluminium  urn:newsml:reuters.com:*:nL8N1U13RU
    ** The Commission has proposed a combination of a quota and
a tariff to prevent a surge of steel imports as the EU fears
that products no longer imported into the U.S. will instead 
flood European markets 
    ** Shares of steelmaker Posco  005490.KS  slide more than 4
pct, while Hyundai Steel  004020.KS  and Seah Steel  003030.KS 
fall 7 pct and 6.5 pct, respectively 
    ** Broader market  .KS11  remains flat as of 1244 GMT

 ((Reuters Messaging:joori.roh@thomsonreuters.com))