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EUROFER supports global HRC quota management mechanism
The European Steel Association (EUROFER) stated that implementing a global quota for hot-rolled coil imports monthly could be a viable adjustment option to ensure market stability and prevent supply imbalances amid the steel safeguard measures imposed by the EU.
Some countries have rapidly utilized 15% of other countries' quotas, which could affect the EU market with a sudden influx of imports.
The EUROFER has submitted recommendations to the European Commission (EC), which include imposing an increase in the current 25% import tariff when the quota is exhausted; implementing a first-in-first-out tariff mechanism to ensure that all excess steel imports are subject to tariffs; expanding the 15% quota cap to other remaining quota categories; and reducing the remaining quota cap for hot rolled coils to 7.5%.
The EUROFER further suggested that the quarterly transfer mechanism for quota surpluses be abolished, and should increase country-specific quotas and reduce the remaining quotas.
Some countries have rapidly utilized 15% of other countries' quotas, which could affect the EU market with a sudden influx of imports.
The EUROFER has submitted recommendations to the European Commission (EC), which include imposing an increase in the current 25% import tariff when the quota is exhausted; implementing a first-in-first-out tariff mechanism to ensure that all excess steel imports are subject to tariffs; expanding the 15% quota cap to other remaining quota categories; and reducing the remaining quota cap for hot rolled coils to 7.5%.
The EUROFER further suggested that the quarterly transfer mechanism for quota surpluses be abolished, and should increase country-specific quotas and reduce the remaining quotas.
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