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...