Starting from the new quota period that began on April 1, the Italian Customs and Monopolies Agency (ADM) has introduced new experimental solutions that will make steel imports more flexible for Italian companies after the quota allocation.
Before the introduction of these new procedures, the quota was assigned to companies after only a couple of days after the import request was made to customs, often leading to an excess that would be subject to a duty of up to 25 percent.
Since a lot of players complained about this way of managing the quota allocation, the ADM decided to test some new procedures. Starting from April 1, importers will be able to choose what to do after the quota is assigned: they can decide to clear only a part of the cargo and store the remaining volumes at port or they can cancel the import request.
As SteelOrbis previously reported, though, when the HRC quota for “other countries” was assigned on April 1, it was exhausted in just a couple of days and the quota was exceeded by about 14 percent. The duty to be paid on the excess tonnage amounts to 3.53 percent.