[SMM Iron & Steel] EU Formally Adopts New Steel Trade Measure to Protect Market from Global Overcapacity

Published: Jun 9, 2026 17:52

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The Council of the European Union has formally adopted a revised tariff-rate quota (TRQ) system set to enter into force on July 1, 2026, immediately after the current safeguard expires on June 30. The new regulation aims to reduce steel import quotas, apply higher duties to imports exceeding quota volumes, and introduce a strict "melt and pour" requirement to ensure traceability. This framework provides greater flexibility by allowing unused quotas to roll over within the same year but firmly limits non-EU influxes and Russian steel dependence. By strengthening import surveillance, these measures provide structural insulation for European domestic mills, allowing them to defend local pricing despite challenging market conditions.

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