Around 75% of European tariff-free quotas for the period ending 30 June have now been filled, Kallanish learns from the latest European Commission (EC) official data. The quotas were set earlier this year as part of the EU’s permanent safeguard system.
Overall some 10.2 million tonnes of quotas were available in the period ending 30 June 2019. A total of 7.7mt of these quotas have now been used.
New quotas will be available from the beginning of July. Most key product categories however have seen the available tariff-free volumes exhausted, meaning that imports into Europe will remain mostly absent in the coming weeks.
In more detail, most of the quotas for the import of metallic coated sheet have been fully taken up. Those for rebar, organic coated sheet, stainless bars and sections, stainless wire rod, non-alloy wire rod, hollow sections and non-alloy wire have also been fully subscribed.
The EC is reviewing the system while steelmakers are vociferously asking for for more stringent measures. Importers meanwhile are expecting some changes in quotas for specific products such as rebar and wire rod.