But steelmakers were expected to push for higher prices. The rise might be supported by the effects of the EU’s safeguard case on steel imports and by strengthening demand.
The European Commission (EC) imposed preliminary measures in a safeguard case on July 18
, in the form of tariff rate quotas on 23 steel product categories, based on average import volumes over the past three years. Imports will only face a 25% tariff if a quota is exceeded. Imported HRC is included in the product list.
Import volumes were expected to decline gradually until the year’s end because buyers would not risk exceeding the quota, market sources told Metal Bulletin.