![EU frees up some Egypt HRC quota tonnage](https://media.kallanish.com/filer_public/cd/22/cd22ee06-62e4-400d-aca2-7c83b78cba92/067a601c-8f23-4710-b5b7-acf79ea28eb7.jpg)
EU frees up some Egypt HRC quota tonnage
Egypt has seen 10,175 tonnes of its EU hot rolled coil third-quarter safeguard quota made available, despite having oversubscribed its 141,850t quota cap immediately after the current period opened, Kallanish notes.
As of 2 July, Egypt had 176,626t awaiting allocation for customs clearance. Whether the correction stems from withdrawals from quota declarations or other factors was unclear at the time of publication. The European Commission has implemented a blocking period for Egypt’s quota between 11 July and 11 August. Total awaiting allocation as of 11 July was 339t.
Vietnam, Japan and Taiwan have fully utilised their Q3 caps under the "other countries" HRC quota, each shipping 141,850t.
About 357,750t is still available under the other countries quota of 945,665t for Q3.
The US, Libya, and Canada have 100% of their other countries HRC quota caps available.
India has utilised 74% of its HRC quota. Turkey and Australia have each filled 18%.
South Korea, the UK, Serbia, and Switzerland had low quota utilisation rates, ranging from 3% to 12%.
The European Commission capped the maximum volume a single country can export under the other countries TRQ to 15% per quarter to stabilise the market, it said earlier. This category's early quota exhaustion had led to market imbalances and increased import pressure.
The Italian Customs Agency (ADM) introduced an experimental procedure for tariff quotas starting from April, allowing importers, if quotas are exhausted, to cancel or adjust their import operations without incurring additional duties.
Origin | Quota 1.7-30.9.2024 | Imported | Balance | Awaiting allocation | Avaliable TRQ, % |
Russia | not applicable | - | - | - | - |
Türkiye | 475,174 | 84,143 | 391,031 | 570 | 82 |
India | 301,704 | 222,210 | 79,494 | - | 26 |
Korea, Republic of | 188,405 | 11,369 | 177,037 | 4,128 | 92 |
United Kingdom | 157,608 | 4,972 | 152,636 | 1,099 | 96 |
Serbia | 167,257 | 18,215 | 149,041 | 1,322 | 88 |
Other countries, inc | |||||
Egypt | 141,850 | 131,675 | 10,175 | 339 | 7 |
Vietnam | 141,850 | 141,850 | - | - | 0 |
Japan | 141,850 | 141,850 | - | - | 0 |
Taiwan | 141,850 | 141,850 | - | - | 0 |
Australia | 141,850 | 26,046 | 115,804 | - | 82 |
Switzerland | 141,850 | 4,183 | 137,666 | 165 | 97 |
United States | 141,850 | 461 | 141,389 | 1 | 100 |
Libya | 141,850 | - | 141,850 | - | 100 |
Canada | 141,850 | - | 141,850 | - | 100 |
Total other countries | 945,665 | 587,914 | 357,750 | - | 38 |
Total | 2,235,812 | 928,823 | 1,306,989 | - | 58 |
Source: EU TARIC, as of 11 July. Calculated by Kallanish
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Anonymous
Very good overview of the weekly steel market.
Anonymous