EU and Ukraine agree on steel quota

EU and Ukraine agree on steel quota

According to recent news in the market, European Union (EU) and Ukraine have recently signed an agreement regarding expansion of the steel quota allocated to Ukraine. In line with the deal, EU increased the quota allocated to Ukrainian steel exports to 606'824 tons, taking country's sale to new ten members of EU into account. Officials from both sides will examine the draft and with a formal approval, the quota will be effective. The quota division is as follows: 230'879 tons of heavy plate, 80'007 tons of coils, 66'608 tons of other flat products, 93'679 tons of wire rod, 13'481 tons of beam and 122'170 tons of other long products. As previously reported by SteelOrbis, EU increased steel quota allocated to Russia to compensate the possible loss of Russia following the expansion of EU.