EU steel safeguards may begin to control HRC quotas
1 Jun 2020 14:37 reported by Ana Lee
The European Commission's review of safeguard measures was unlikely to adjust tariff quotas substantially, but it will limit the supply of hot-rolled coil through some control mechanism.
It was still unknown how the European Commission will adjust it; however, the most possible method seemed to be a 30% reduction in the import ceiling of each country, which will greatly reduce the supply.
The quota allocation way might also be changed to allotment by country. In this way, countries that were restricted from anti-dumping duties and could not enter the EU market will be granted some quotas.
In the next few days, the European Commission might publish a proposal for the review, and the proposal needed the member states to vote to facilitate implementation on July 1st.
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