SMM7 March 15: according to recent news, the European Commission reviewed the safeguard quota before the renewal on July 1, 2020, and the change came into effect at the beginning of this month. Following the review country-specific quotas will now be managed on a quarterly basis with a view to avoiding import congestion in the first few weeks of each quota renewal period. However, in the first few days of the new quota period (until September), the large tonnage of some product groups was booked. This is particularly targeted at stainless steel cold-rolled flat steel products and Indian stainless steel bars and light profiles-whose quota expires ahead of June 30, 2020.
Brief comments on SMM:
According to customs statistics, the volume of stainless steel coil exported from China to the European Union in 2019 accounts for about 10% of the total export volume in 2019, accounting for about 16% of the total export volume. In the first quarter, due to the influence of the epidemic, China's stainless steel market was greatly affected, but since the second quarter, demand and production have been strongly improved and recovered, but foreign markets have been affected to varying degrees, and customs data show that stainless steel exports declined slightly from April to May after the concentrated release of orders in March, and it is expected that stainless steel exports will still weaken to a certain extent in the later period.
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