EU import quota for hot-rolled coils exhausted

The European Union had transitioned its hot-rolled steel coil quota to a country-by-country and quarterly basis, it said in a notification to the World Trade Organization last year. Indian HRC volume were also reduced. In Jul ’17-Jun ’18, India had sold 967,596 t into the EU, and 793,235 t in Jul ’18-Jun ’19; both above its new quota level. SteelMint learnt from market sources that, Indian suppliers have exhausted their second-quarter quota of 162,983 t shipments of hot-rolled coil into Europe on the first day of the new three-month period, i.e. Apr ‘1, according to data released by the European Commission (EC).