[SMM Iron & Steel] South Korea Urges EU to Maintain Fair TRQ Allocations for Korean Steelmakers

Published: Jun 11, 2026 16:33

Save

The South Korean government, through its Ministry of Trade, Industry and Energy (MOTIE), has officially requested the European Commission to ensure fair treatment and preserve historical tariff-rate quota (TRQ) volumes for Korean steelmakers under the EU's newly adopted steel trade protection framework set to take effect on July 1, 2026. The revised EU system mandates a severe 47% reduction in global tariff-free import quotas to an annual ceiling of 18.3 million metric tons (mt), alongside doubling the punitive duty to 50% for any volumes exceeding specified limits. South Korea emphasized that its steelmakers, who heavily supply the European automotive and consumer appliance supply chains with high-end flat products, should not be unfairly penalized by anti-circumvention measures designed to target global overcapacity actors. The market impact indicates an escalating diplomatic and trade policy friction surrounding the EU's highly restrictive single market barriers.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jun 26, 2026 18:05

6.26 SMM Global Steel Daily Report

[Flat Products] HRC Holds Steady While Other Flat Products Edge Lower on Exports Today HRC export prices held broadly steady while other flat-product export prices edged lower day on day, with HRC concluded at 491-500 USD/tonne. With the Strait of Hormuz situation fluctuating, fresh inquiries for HRC, heavy plate and other products emerged from that region this week, but sellers report actual deals remain limited. Separately, about 10000 tonnes of Q195 HRC for re-export was sold to Vietnam recently at 500-503 USD/tonne CFR.

Jun 26, 2026 18:05

Jun 26, 2026 18:04

MMi Daily Iron Ore Report (June 26)

Today, the DCE iron ore futures trended strong today, pulling back slightly near the close. The most-traded I2609 contract closed at 748 yuan/mt, up 0.81% from the previous trading session.

Jun 26, 2026 18:04

Jun 26, 2026 17:38

[SMM HRC Daily Trading] Spot trading increased somewhat

[SMM HRC Daily Trading] On June 26, the combined daily hot-rolled coil trading volume of sample enterprises in SMM's four cities (Shanghai, Lecong, Tianjin, Ningbo) was 12,600 mt, up 860 mt, or 7.0%, day on day, and down 1.10% YoY based on the solar calendar, but up 20.23% YoY based on the lunar calendar.

Jun 26, 2026 17:38