Possible tariffs on Indian HRC (hot-rolled coil) imports to the EU could do more harm than good to European factories in the long term. Background is that an investigation could be launched after imports from India rose significantly despite safeguard quotas.
EU: Current Indian HRC quotas already double overbooked
The July-September quotas were opened yesterday, and more than 333,000 tons of HRC have already been declared for customs clearance – the quota for the country is almost half that size at 169,717 tons. Part of this material is subject to a 25% tariff.
EU tariffs could shift HRC imports to neighbouring countries
Argusmedia.com has written an interesting article about what further tariffs on HRC from India could mean for the European market in the medium to long term.
After all, the danger cannot be denied that shifting Indian HRC imports to neighboring EU countries (such as Turkey or CIS countries) could have a long-term impact on import prices overall.
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