Aug 19, 2020
EU import quotas for certain steel products are in critical condition
2020-08-26
According to EU Commission data, import quota on certain steel products is in critical condition, while some of them are already exhausted.
Rebar import quota for Turkey and Russia were already exhausted as of July 30 and August 11, respectively, while wire rod import quota for both countries are in critical condition. Remaining wire rod quota for Turkey stands at 4,841 mt as of August 18 and remaining quota for Russia is near zero. Turkey will also need to wait until October to be able to export merchant bars to EU again, as its import quota was depleted as of August 13.
In flat segment, Turkey’s import quota for organic coated sheet amounting to 14,302 mt was exhausted as of August 3, while other countries quota for the same product was also used up as of July 27.
Looking at stainless steel products and pipes, Turkey’s gas pipes quota was exhausted as of August 10, while import quota for Vietnam regarding stainless cold rolled sheet is in critical condition with the remaining quota standing at 1,047 mt as of same date.
Meanwhile, one of the major HRC exporters to EU, Turkey, used 260,599 mt from its total import quota of 344,890 mt, while Russia used 158,575 mt out of 421,690 mt.
Source: Steel Orbis
