No relief to European steel shortage after fast take-up of renewed EU import quotas

Europe’s third-quarter steel import quotas opened on Thursday July 1, but already some suppliers have absorbed a large proportion of the long steel allocation, repeating a similar scenario from the previous quarter.

As a result, European independent traders and downstream steel users are once again left with no alternative to domestically produced steel and surging prices, sources told Fastmarkets.
Rebar and wire rod
European Union customs data from July 6 showed that Russia has supplied 29,542 tonnes of rebar to the EU, representing 49.27% of its 59,963-tonne rebar quota for the July 1-September 30 period.
The country has also shipped 66,118 tonnes of wire rod to the EU, representing 79.75% of its 82,910-tonne third-quarter quota.
Turkey, another major long steel exporter to the EU, has supplied 53,405 tonnes, or 86.22%, of its 61,938-tonne rebar quota, and 7,976 tonnes, or 9.92%, of its 80,401-tonne wire rod quota for the July-September period, according to the EU customs data.

Ukraine, the third major long steel supplier to the EU, appeared to be using...

Published

Carrie Bone

Julia Bolotova

July 07, 2021

14:42 GMT

Dnipro, London