EUROPE HRC: Buyers still holding back, awaiting trade case decision

Activity in the European market for hot-rolled coil (HRC) has been slow this week, with buyers keeping to their wait-and-see positions ahead of the announcement of a provisional decision in a regional safeguard case, sources told Metal Bulletin on Wednesday July 11.

The European Commission (EC) is expected to set preliminary measures in the case either later this week or early next week, according to market participants. The Commission told EU member states earlier this month that it intends to introduce provisional safeguard measures on imports of 28 steel products in the form of a tariff rate quota (TRQ). Additional duties will be levied only after import volumes exceed the TRQ, which will be based on the normal levels of imports in 2015-17. The EC opened the investigation into imported steel products in late March, in an attempt to prevent steel shipments being redirected to the EU market as a result of the United States imposing its Section 232 import tariffs. Imported HRC is among the products included in the trade case. “Nobody is taking a risk on...

Published

Maria Tanatar

July 11, 2018

14:28 GMT

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