Prices for hollow steel sections in Europe remained flat on Wednesday January 9 while market participants digested the news about a revised import quota regime for the region.
Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe remained at ?,?635-650 ($727-744) per tonne delivered on Wednesday.Less than 5,000 tonnes remains to be allocated of the 387,343 tonnes import quota for hollow steel sections, before a 25% tariff is applied."When safeguard quotas are filled by 90%, they are classified as 'critical' and we understand that imports will only be cleared through EU Customs with a letter of guarantee from a bank saying that the exporter will pay the tariff if necessary," Fastmarkets...