Proteccionismo y asfixia en la cadena de valor del acero el impacto de las salvaguardias europeas en los centros de servicio y la industria transformadora española[From Protectionism to Value Chain Suffocation: The Impact of European Safeguards on Steel Service Centers and the Spanish Transforming Industry]

European Union trade defense policy faces a structural contradiction between protecting primary steelmaking and the economic viability of its intermediate industrial value chain. This paper analyzes the macroeconomic and operational impact of Regulation (EU) 2026/1384 introducing a 50% out-of-quota tariff and the Melt and Pour traceability rules in effect since October 2026, focusing on Steel Service Centers (SSC) in Spain. Through a microeconomic lens, it demonstrates how the temporal asymmetry between international transit times (60-90 days) and the volatility of quarterly quotas destroys procurement predictability, suffocates working capital, and inflates financial costs due to customs retention. Furthermore, it models the severe compression of downstream margins (transformation spreads) for local distributors, who are caught between the artificial price inflation of flat coils and the price elasticity of industrial demand. The analysis concludes that blind protectionism triggers a "downstream leakage" effect, perversely encouraging the importation of pre-manufactured components and the offshoring of value-added transformation to third countries outside the Customs Union. Finally, policy reforms are proposed for an integrated industrial policy, including "in-transit" customs exemption clauses and liquidity support for the intermediate transformation fabric.