EUROPE SECTIONS: Trading flat as market mulls import quota news

Prices for hollow steel sections in Europe remained flat on Wednesday January 9 while market participants digested the news about a revised import quota regime for the region.

Fastmarkets’ domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at €635-650 ($727-744) per tonne delivered on Wednesday. Fewer than 5,000 tonnes remain to be allocated of the 387,343-tonne import quota for hollow steel sections before a 25% tariff is applied. “When safeguard quotas are filled by 90%, they are classified as ‘critical’ and we understand that imports will only be cleared through EU Customs with a letter of guarantee from a bank saying that the exporter will pay the tariff if necessary,”...

Published

Carrie Bone

January 09, 2019

17:32 GMT

London