S & P Global reported that the export quota of the Asian producers of rolled steel rolled products to European Union will fill for Q1.2023. A significant share is by the flat and graded rolled products. Rebars from Türkiye were 55%, but its wire rod has only 7% due to less demand. A Significant share of Algeria has been reported in this category; Türkiye is lagging in competition with Asia & North Africa.
The Cold rolled coils (CRC) and hot rolled coils (HRC) markets favored Asian producers. South Korea occupied an export share of 62% in HRC and 47% for CRC to the EU by the end of February 2023. Japan, Taiwan, and Vietnam have availed half of the remaining quantity for HRC.
India has occupied 10% of HRC imports to the EU by the end of February. The 15% export duty imposed by India caused to fall in imports. Duty was charged in May 2022 and lifted in November 2023; however, its impact is still reflected in imports.
The United Kingdom has extended the anti-dumping duty on rebar from China from 1st March 2023. Trade Remedies Authority (TRA) indicated an overflow of rebars from a few other countries to fulfill the need for a supply shortage from the Russian Federation, Ukraine, and Belarus to the UK.
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