UK plans to extend steel safeguard for three years

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