The online monitoring system for steel quota allocation in the UK continues to be delayed due to ongoing technical problems. Traders are unable to check import quota balances, and Category A quota for large welded tubes has been exhausted with the Feb. 1 allocation, according to HMRC.
Failed system prevents verification of steel quota balances
Since Jan. 6, the failed system has prevented traders from checking quota balances for imports. Although purchasers can still register quota claims for material – and HMRC has reportedly responded quickly to trader requests – there is still no way to determine if a quota has been met.
Challenge for UK-based steel traders
The system outage has made trading challenging for many UK-based traders who have no other way to monitor exhausted quota.
Large welded tubes now subject to 25% safeguard duty
Regarding the filled quota for large welded pipe, HMRC said in a letter, “Any take-up of this quota is now subject to a 25% safeguard duty.”
This quota is now the third to be exhausted, along with hollow sections from Turkey and the “other countries” category.
Excess quantities on the now exhausted quotas will be distributed proportionately among all quota entitlements, with purchasers responsible for paying the duties.
Source: eurometal.net
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