The European Commission's new quota period for steel imports between July 1 and September 30 has started. According to the published data, Turkey has already filled its quotas for three products, while India has also exhausted its import quota for some products.
Accordingly, Turkey has filled 100 percent of its wire rod quota of 119,010 mt, 133 percent of its hollow section quota of 99,461 mt, 104 percent of its railway steel quota of 1,573 mt, and has already used up 88 percent of its large welded tube-B B quota of 15,095 mt.
Meanwhile, India has filled its 79,455 mt organic coated sheet quota, its 32,082 mt stainless bar and light section quota, and its 55,225 mt metallic coated sheet-A quota, while filling 70 percent of its 301,703 mt hot rolled sheet quota. Since exports of flat steel production from India have been slow over the past few months due to strong competition with other Asian suppliers, Europe has remained the only destination where India continues to sell given its higher levels of prices in general. This, together with the relatively weak local Indian market, has resulted in the high volumes of Indian flat steel exports to the EU.
Finally, China has used up 153 percent of its 129,629 mt metallic coated sheet-B quota and 100 percent of its 7,075 mt steel piling quota.
Exhausted quotas are seen for other Asian steel products too. There were more volumes shipped under the “other countries” quota, and, because of the new rules stipulating a cap of only 15 percent per country, some Asian exporters have decided to postpone customs clearance to the next quarter to avoid paying tax.