Oct 11, 2023
EU buyers utilise safeguard quotas quicker than Q3

In the first two weeks of the fourth quarter, EU safeguard quotas for steel imports have been used on average at a faster pace than during the first two weeks of Q3, Kallanish notes.

According to the latest report published by EUROMETAL, 29% of all quotas for flat carbon steel products have been used and 14% of those for longs. In the corresponding Q3 period, only 18% of the flats quotas were used and 11% of longs.

For flat products, importers have already fully utilised quotas for HRC under the “other countries” sub-category, as well as those for Chinese metal coated coil imports. Half of the quotas for imports of South Korean HRC and Indian organic coated coil have also been used for Q4.

In the longs segment, for the moment, only quotas for imports of wire rod from Malaysia have been exhausted. By the end of Q3, quotas were also exhausted for Chinese merchant bar, as well as sections from “other countries”.

Other quotas that have been fully utilised for Q4 include Indian bars of stainless steel as well as Chinese sheet piling.

Emanuele Norsa Italy

Source: Eurometal