UK plans to extend steel safeguard for three years

Market: Metals
19/05/21

The UK Trade Remedies Investigations Directorate (TRID) has preliminarily recommended that the country's steel safeguard be extended for three years for most products with the 25pc duty remaining, but some products will be removed from its scope.

Notably, 4B metallic coated sheet has been recommended for revocation because of insufficient UK production.

The products the TRID proposes to remove as there is no significant UK production or increased imports are: metallic coated sheet (4B), tin products, non-alloyed merchant bars and light sections, stainless bars and light sections, non-alloy and other alloy wire rod, angles, shapes and sections, rails, non-alloy and other cold finished bars and non-alloy wire.

Non-alloy and other alloy quarto plates, large welded tubes and non-alloy wire will also be removed as there has been no increase in imports or they are not causing serious injury.

For all other products, the safeguard will be extended with a 3pc/year liberalisation. Interested parties have until 5pm BST on 26 May to comment on the final determination.

In the hot-rolled coil suite, the EU will have a 165,052t quota between July and September of this year and for the fourth quarter. Russia will have just 11,782t each for the third and fourth quarters, while Turkey will have 22,982t. On rebar, the Russian quota is just 6,122t/quarter for the remainder of this year.

By Colin Richardson

UK safeguard quotas			t
Product category	Area/country	1/7/2021 to 30/9/2021	1/10/2021 to 31/12/2021

1	EU	165,052	165,052
	Russia	11,782	11,782
	Taiwan	12,792	12,792
	Turkey	22,982	22,982
	Residual	15,621	15,621
2	EU	74,206	74,206
	India	9,106	9,106
	S.Korea	11,146	11,146
	Vietnam	6,240	6,240
	Residual	16,673	16,673
4	EU	302,951	302,951
	China	31,933	31,933
	S.Korea	24,610	24,610
	Taiwan	32,637	32,637
	Residual	71,359	71,359
5	EU	33,537	33,537
	S.Korea	10,884	10,884
	Residual	2,170	2,170
13	EU	50,362	50,362
	Belarus	21,051	21,051
	Russia	6,122	6,122
	Turkey	29,015	29,015
	Ukraine	12,398	12,398
	Residual	3,433	3,433

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