The European Commission (EC) has announced the imposition of definitive safeguard measures on imports of certain steel products from the UK, as they will not be in the same trading area with the UK after Brexit. Without this specific quota for the UK, the UK steel sector could have faced a £80 million bill from EU steel safeguard tariffs in the first half of 2021, UK Steel and Steel Trade Union Community stated. The UK will be subject to a 25 percent tariff if it exceeds the quota.
In the first quarter of 2021, the UK’s HRC producers will have a 114,460 mt quota, while they will have a 115,732 mt quota for the second quarter of the given year. The UK will be able to sell 76,842 mt of CRC to the EU in the first quarter of 2021 and 77,686 of the given product mt in the second quarter. The producers will have a 31,075 mt quota for 4A HDG in the first quarter and 31,421 mt in the following three months. The UK will be able to sell 31,075 mt of 4B automotive gauge HDG in the first quarter and 31,421 mt in the second quarter.
Regarding long steel products, the UK will have a 86,672 mt quota for merchant bar in the first quarter and a 87,635 mt quota in the second quarter. The country will be able to sell 133,112 mt of wire rod to the EU in the first quarter and 134,591 mt in the second quarter. As for steel sections, the UK-based producers will have 23,890 mt and 24,145 mt quotas for sections for the first two quarters of 2021, respectively.
Meanwhile, the UK had announced that it will apply its own quota tariffs on imports of certain steel products effective from January 1, 2021, due to Brexit, as SteelOrbis previously reported.
