Protective quotas for imports to the EU for hot-rolled coils were exceeded by South Korea, according to data from the European Commission on May 8.
This happens after the EU reduces the quota level for each country, effective April 1.
The initial quota amount for South Korea in the first quarter was 184,310 MT, which was reduced to 161,144 MT for the 2nd quarter.
The 25% debt will now apply to any additional HRC imported from the country.
Despite this exhaustion of South Korea, quota levels for Turkey, India, Serbia, the UK and other countries remain above 50%.
Platz parts and global raw materials findings, estimate the import HRC in Northern Europe on May 8 at Eur540/T Cif Antwerp, down the EU-15 for the month, the lowest level since January. 21.
The Platts agency estimated the price of Southern imports in Europe on May 8 at Eur530/t CIF in Southern Europe, the EU-15 for the month, the lowest level since January 13.
The difference in prices compared to domestic HRC prices has increased since the new measures came into force, suggesting that imports may be starting to look more attractive.
Some sources state that import offers from some Asian manufacturers are becoming more competitive, which is putting pressure on the domestic market.
Platz accrued domestic HRC in Northern Europe on May 8th at Eur645/MT Ruhr pickup, stable day day.
spglobal.com
