Turkey rebar quota for EU imports already 70% full, 57% for wire rod

Turkish suppliers had already used up 70.43% of the annual EU steel import quota for Turkey-origin rebar by Monday July 15, just two weeks after the annual quota period began on July 1.

Only 89,178 tonnes of the annual quota volume of 301,538 tonnes for Turkish rebar remains to be allocated. The current quota period will run until June 30, 2020.
As of July 15, no further tonnes were awaiting allocation to the quota.
Turkey is the most popular import source for rebar, when price and logistical factors have been considered, market participants said.
“The high utilization of the [Turkish rebar] quota comes as no surprise and, as expected, take-up has slowed down a little now that it is above 70% because the risk of having to pay the 25% duty gets higher,” one European mill source told Fastmarkets.

Once a quota allocation is completely taken up, further imports within the quota...

Published

Viral Shah

July 16, 2019

18:30 GMT

London