EU approves adjustments to steel import quotas

Wednesday, 11 September 2019 15:02:46 (GMT+3)   |   Istanbul

The changes proposed by the European Commission have been approved by the member states last week. Accordingly, the annual quota increase for the period between July 2019 and June 2020 will be lowered to three percent from five percent, as of October 1.

Another important adjustment was for hot rolled coil which is currently subject to a global quota. There will be a limitation of 30 percent to the share of the global quota that any single exporting country can reach per quarter during the remaining duration of the measures. Regarding rebar and wire rod imports, the 30 percent limitation will also apply to remaining 'other countries’ quota when it is opened up for all countries during the last quarter of each one-year period. For all three products, Turkey will be affected the most.

On a separate note, the European Commission announced that when a product is subject to both antidumping or countervailing duties and quota tariff duty, 25 percent quota tariff duty will be applicable if the AD/CVD is lower than 25 percent. In case that the AD/CVD is higher than the quota tariff duty, both the 25 percent tariff and the difference between quota tariff duty and AD/CVD rate will be collected.

Most Recent Related Articles

IREPAS chairman: Long steel market in a recovery period

Producers at IREPAS: Global long steel demand more or less same as before pandemic

Local Chinese coking coal prices - week 37

Local molybdenum and ferromolybdenum prices in China - week 36

ArcelorMittal to restart BF at its Asturias plant