Turkiye exhausts part of its import quotas for steel products to the EU for the first quarter

Turkiye, China and India have already exhausted part of their import quotas for steel products for the quota period from January 1 to March 31, 2024. This is reported by SteelRadar with reference to EC data.

Turkiye has already fully selected quotas for large welded pipes (25B) in the amount of 14.7 thousand tons, 93.75% of the quota for railway materials, and almost 90% of the quota for hollow sections (97.14 thousand tons). At the same time, the quota for HRC from this country (434.7 thousand tons) is only 6.33% full.

China has chosen to use the quota for coated steel sheets (4B) in the amount of 126.6 thousand tons, while the quota for Chinese other welded pipes (7.9 thousand tons) is 74% full.

In addition, India has completely exhausted its quota for the supply of stainless bars and light profiles in the amount of 31.3 thousand tons, and the quota for the supply of organic coated sheets (77.6 thousand tons) is almost 75% closed.

At the same time, the quotas for stainless wire rod from Taiwan, South Korea, China and Japan were almost never used. South Korea’s quota for hot-rolled coils (184 thousand tons) is currently more than 35% full.

As GMK Center reported earlier, it was expected that the rapid filling of quotas for imports of certain types of flat products to the EU in the first quarter of 2024 would support hot-rolled coil prices. As of January 5, about 1.18 million tonnes of HRC were expected to be allocated for import to the EU in the «other countries» category, while the quota for the period was 923.6 thousand tonnes. In addition, the market assumed that the South Korean quota might be exceeded in the first quarter.