You are here: Home > Steel News > Latest Steel News > EU...

EU sets quota for pig iron imports from Russia, extends slab import quota period

Tuesday, 19 December 2023 10:27:16 (GMT+3)   |   Istanbul
       

The European Council has announced that it has adopted a 12th package of sanctions against Russia to combat sanctions circumvention and close loopholes.

The EU has accordingly restricted imports of pig iron with quotas for two separate periods, while market participants were expecting an import ban. Imports of pig iron between December 19, 2023, and December 31, 2024, will be restricted to a quota of 1.14 million mt, and with a quota of 700,000 mt for the period from January 1, 2025, and December 31, 2025. The EU has deferred the ban on imports of pig iron from Russia to 2026, SteelOrbis understands. Direct reduced iron imports from Russia will be subject to quotas of 1.14 million mt and 651,906 mt for the given periods, respectively.

In addition, the quotas for ex-Russia slab imports has been extended for another four years, as expected. The EU has set a total 8.5 million mt quota for slab imports from October 2024 until the end of September 2028, and a total 426,321 mt quota for semi-finished products of alloy steel other than stainless (HS code 7224 90) for the same period. The issue had been actively lobbied by NLMK Belgium, subsidiary of Russia-based NLMK Group, as SteelOrbis previously reported. At the same time, imports of square billet containing weight of less than 0.25 percent of carbon (HS 7207 11) will be banned from April 2024, similar to the previously announced measures.  


Similar articles

Market assesses 12th EU sanctions package vs Russia as mainly toothless, but pig iron finally included

19 Dec | Steel News

Russia officially imposes export duties for most steel and raw materials until end of 2024

21 Sep | Steel News

NLMK’s crude steel output up one percent in 2020

22 Jan | Steel News

Slowdown in Turkey’s steel exports continues in September

17 Sep | Steel News

WSD Strategic Insights #9: Correlation coefficients illuminate steel price relationships

22 Mar | Steel Matters

Erdemir increases profit and sales in Q1

09 May | Steel News

NLMK’s steel output declines in Q1 from Q4 2010 levels

19 Apr | Steel News

Erdemir sees $502 million net profit in 2010 due to higher local shipments

15 Mar | Steel News

NLMK’s steel output up 8.8 percent in 2010, sees demand recovery in early 2011

21 Jan | Steel News

Erdemir posts $106 million profit in Q1 2010

07 May | Steel News