From July, Tata Steel UK can gradually import more hot rolled coil (HRC) mainly from its Indian parent company due to problems with production in the UK and Holland.
Recently, service centers are mainly contacting to Asia due to the large gap between import and European and UK domestic prices. Taiwan, Türkiye and the EU have their own sales quotas to the UK. Taiwan's quota is expected to be exhausted in the next quarter. Material from the EU, although more affordable, but also more expensive.
Steelmaker Tata Steel UK is importing 25,000 tons of hot-rolled coil (HRC) from its Indian parent company for customs clearance in June and could deliver more during the next quota period.
Tata, the UK's only integrated carbon steel coil manufacturer, supplies the material primarily to its distributors, which have been hit by production problems in the UK and the Netherlands.
UK steel protection quota for HRC from other countries to which Indian material is processed is 21,900 tons per quarter, but is currently around 47,000 tons after 32,600 tons were transferred from previous quarters. Anything left from this period cannot be carried over to the next one, starting in July, which is the start of a new annual quota period. This means that the quota will be around 44,000 tons between July and December. Judging by the materials coming from traders, it is very likely that quotas will be exceeded.
