Turkey, Russia once again exhaust certain steel import quotas

Turkey and Russia have exhausted their permitted import quota allowances for certain long steel products within just days of renewal, Fastmarkets has observed from European Commission data.

The import market for long steel products in the European Union has remained strained because of safeguard measures. The fourth-quarter quota for steel imports into the EU came into effect on October 1 and will run until December 31.
Rebar and wire rod
Some suppliers have already fully consumed their allocations for certain products just seven days after the start of the new quota period.
Notably, as of October 6, Turkey had entirely used its 61,938-tonne rebar allocation for the period, and its 80,401-tonne wire rod allocation for October-December had also been fully consumed, according to EC customs data.
“The Turkish quota for rebar and wire rod was fully used in the first couple of days after the new period started,” one trading source said.

“The Turkish quota is gone until April. There are some significant volumes that didn’t fit into the fourth-quarter quota so buyers will...

Published

Carrie Bone

Julia Bolotova

October 08, 2021

10:28 GMT

London, Milan