EU market anticipates a large influx of imported products in the first days of October

During the new quota period of the European Union, which will last from October 1 to December 31, 2023, almost 50% of import quotas for some types of rolled steel have already been exhausted. At the same time, quotas for certain steel products will be fully exhausted after the cargo passes customs control. SteelOrbis reports about it.

The import trend confirms the expectation that the quota of 933.7 thousand t for HRC, as well as 121.2 thousand t for wire rod, will be exhausted in the near future, as about 1.04 million t and 121.8 t are currently waiting for customs clearance at the ports thousand tons of products, respectively.

According to ArgusMedia, market sources assume that the volume of imports of hot-rolled coil will increase to 1.3 million tons, as not all customs authorities have provided updated data.

In addition, 133 thousand tons of coated steel, 7.4 thousand tons of sheet piles and 9.6 thousand tons of large welded pipes imported from China await customs clearance, while the quota for the corresponding products for the country is 127.99 thousand tons. tons, 7 thousand tons and 8.4 thousand tons.

India will exceed the quota for stainless bars and profiles, as there are 37.4 thousand tons of corresponding products in the customs zone, and the quota is 31.7 thousand tons.

Currently, China has already exhausted 80% of the quota for the import of electrical steel (24.59 thousand tons), 84% – for tin products (93 thousand tons), and 50% – for seamless pipes (18.95 thousand tons). Turkiye exported 61.1 thousand tons of hollow profiles to the EU from the quota of 98.2 thousand tons, and South Korea exported 97.7 thousand tons of HRC from 186 thousand tons.

As GMK Center reported earlier, at the end of September, the end of the previous quota period (July-September), European quotas for some steel products were exceeded, and more than 90% of the volumes for certain types of products were used.

In particular, in the third quarter, the quota was exceeded for hot-rolled coil (HRC) in the subcategory «other countries» (it amounted to 933.74 thousand tons), for Indian seamless stainless pipes (5.87 thousand tons for this country) and Chinese others welded pipes (8.58 thousand tons).