EUROPE HRC: Decision in safeguard case 'will support domestic prices'

Domestic prices for hot-rolled coil (HRC) in Europe are expected to move up when market activity recovers from the summer lull, supported by this week’s preliminary decision in an EU safeguard case, sources told Metal Bulletin on Thursday July 19.

The European Commission (EC) set preliminary measures in the safeguard case on July 18, in the form of a global Tariff Rate Quota (TRQ) on 23 steel product categories, based on average import volumes over the past three years. Imports will only face a 25% tariff if the quota is exceeded. Imported HRC is included in the product list.
“The mills are going to use the decision in the case to achieve a price rise, in the same way they do after each decision in a trade case,” a German trader said.

The quotas will be set product-by-product, so buyers might start to import...

Published

Maria Tanatar

July 19, 2018

13:32 GMT

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