EU HRC buyers to turn to India, Croatia, Asia to fill gap after shake-up of safeguard quota system

European buyers of imported hot-rolled coil (HRC) are expected to switch from Turkish material to products from India, Asia and Serbia, market sources told Fastmarkets this week.

The European Commission (EC) recently presented a draft of adjusted measures including a 30% limit to the market share of the global quota that can be taken up by any single country that supplies HRC to Europe. The proposed date for the adjustments to the measures to come into force is October 1, 2019. The quota for imported HRC for April-June 2019 was 2.05 million tonnes. While the European buyers imported 2 million tonnes in the same period, according to data released by the European steel association Eurofer. Imports of HRC from Turkey over the same period amounted to 752,000 tonnes over the period, according to Eurofer data, which is about 36.65% of the total quota. Because the EU already has anti-dumping measures in place for the material from Russia, Ukraine, Iran, Brazil and China, European buyers are left with a limited number of countries from which to source imported HRC. After those anti-dumping measures were introduced,...

Published

Maria Tanatar

September 06, 2019

15:29 GMT

Kiev