The EU has petitioned the World Trade Organization (WTO) to implement a hot rolled coil (HRC) quarterly quota for each supplying country.

 

The new regulations are expected to significantly affect Turkish HRC exports. Under the proposal, Turkish HRC exporters would be permitted to supply 344,891mt to the EU duty-free for the remaining two quarters of the year, however, they could only supply 337,393mt in Q1 2021 and 341,142 in Q2 2021, according to a document Davis Index has received.

 

The result is a substantial decline of HRC exports from Turkey to the EU, considering the former supplied the latter 530,000mt in Q1 2020. 

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