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Indonesian CR stainless steel to be included in EU safeguard system since Oct

16 Sep 2019 16:13 reported by Ana Lee

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It was reported that Indonesian hot and cold-rolled stainless steel sheets and strips would be included in the European safeguards system from the beginning of October, according to the latest approved safeguards amendment.

Indonesia was initially included in the World Trade Organization’s (WTO) list of developing countries and was thus immune to safeguards. However, the surge in a number of Indonesian cold-rolled stainless steel sold to the EU in the first half-year of 2019 prompted the European Iron and Steel Association (Eurofer) and many market participants to require the amendment of safeguards.

After the amendments of safeguards has been approved, Indonesian steel imports would be allocated as the quotas of “other countries.” From July 2019 to June 2020, the "other countries" quota for hot-rolled steel only got 25,000 tons, and that for cold-rolled steel was 128,000 tons.

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