European Commission Changes EU Steel Import Quotas
From 1st July 2020, some adjustments to steel import safeguard quotas will be taking place. Announced the European Commission. All country quotas will be managed quarterly instead of annually to avoid storage at the beginning of each period.
The commission has brought together three different regimens to sidestep the crowding out of traditional trade flows.
Regimen 1 will not allow further access to the residual quotas in the last quarter of each period for coated sheets, wire rod, gas pipes, and cold-finished bars. Regimen 2 will see limited access to the unused volumes for stainless plates, merchant bars, rebars, stainless bars, stainless wire rod, hollow sections, stainless tubes and pipes, and wire. Regimen 3 will apply to all other products and will see no change, allowing unlimited access to the quotas for those with exhausted country-specific allocations.
The commission has also reviewed its excluded list of developing countries. Such as Tunisia for metallic coated sheet, the UAE for hollow sections.
In addition to other different countries. Notably, Egypt has been added to the list of countries for which the safeguards for HRC do not apply.