Turkey exhausts a number of EU steel import quotas for Q2

In particular, the country chose to buy rebar and wire rod

Some countries have already exhausted part of the EU’s steel import quotas in the second quarter of this year for a number of items. This is reported by SteelOrbis.

Thus, as of April 11, according to the EC, Turkey has exhausted its quotas for rebar (94,398 tons), wire rod (98,054 tons), hollow sections (83,949 tons) and some types of flat products. Among other things, the entire quota of 20,955 tons for metal-coated sheets (4B) allocated to this country in the category “other countries” was also used. In addition, 99.6% of the quota for gas pipes (49,432 tons) was selected.

Vietnam has exhausted its quota for metal-coated sheets (4B) – 20,955 tons, and South Korea – for tin products (16,105 tons). India also chose to allocate volumes for organic coated sheets (78,591 tons) and stainless bars and light profiles (31,733 tons).

The European Commission has confirmed that it will tighten restrictions on steel imports starting in April this year to protect the European steel industry. In particular, new supply limits were introduced for residual quotas (quotas of “other countries”) for 16 product categories – 13-30% per country, depending on the imported product.

The EU also reduced the annual liberalization rate (annual increase in tariff quota) from 1% to 0.1%, further limiting the total amount of steel that can be imported into the bloc duty-free. In addition, countries will no longer be able to rely on the entire volume of unused quotas from other countries, including Russia and Belarus. The EC decided to keep only 35% of the sanctioned volumes for certain categories of imports.