STEEL TRADE FLOWS: Unusual suspects benefit as EU, US HRC duties affect supplies

Hot rolled coil (HRC) trade cases in Europe and the USA have diverted shipments and dislocated supplies, but have also brought opportunities.

Although two cases started in the European Union have not resulted in falling imports over the past year, the market share of overseas suppliers has changed. The two investigations into imported HRC together targeted about 80-90% of total EU imports at the time they were launched, according to sources.
But despite that fact, EU imports of HRC reached 8.41 million tonnes in 2016, up 10.90% from 7.58 million in 2015, according to data from the European steel association Eurofer.
After the start of the cases, Turkish and Indian steelmakers became the prime suppliers of HRC to the E.U.

“Turkey is trying to sell more HRC to Europe, and quite successfully. The Turkish prices used to be at the higher end of the import price range, but now Turkish material is competitive,” a Southern European trader said, as a result of a probe...

Published

Thorsten Schier

Maria Tanatar

April 13, 2017

18:00 GMT