Turkey has exhausted the import quota of non-alloy merchant bars and light sections as of March 13, according to the data from the UK government. Thus, Turkey used the entire quota of 12,769 mt for the period between January 1-March 31.
In January this year it exported a total of 62,029 mt of the product, including 665 mt to the UK. In 2023, Turkey exported a total of 789,546 mt of the given product, including 26,754 mt to the UK.
Although Turkey will not be able to export merchant bar to the UK during the current quota period without 25 percent duty, looking at the EU’s import quotas Turkey has only used 31.93 percent of its quota of 195,323 mt of non-alloy merchant bars and light sections for the given period.
The UK’s Trade Remedies Authority has proposed to extend the safeguard measures on 15 categories of steel products, including merchant bars and light sections, for a further two years from June 30, 2024, until June 30, 2026, to protect the country’s steel industry from surges in imports, as SteelOrbis previously reported. In addition, the European Commission has initiated an investigation reviewing the quota measures on imports of 26 steel products, which will expire on June 30, 2024, unless there is a decision to extend them.