The weakness in quota fills since the first quarter of 2023 has led to expectations that the same will continue in Q3. While Q2 was rocked by banking, energy and demand crises, Q3 is marked by a lack of demand for purchases in Europe. Low demand will keep small tonnages at customs and a quiet quota filling process on alert.
Rebar sees an increase in quotas allocated for Turkey
In the EU, the quota allocated for Turkey in Q2 2023 was 89,869/t, while the quota allocated for Turkey in Q3 2023 was 94,233/t. While the increased tonnage is promising, stronger moves are expected in the global market to stimulate export demand.
Rebar quotas for Bosnia and Herzegovina and Moldova slightly increased
Rebar quotas allocated to Bosnia and Herzegovina and Moldova decreased in Q2 2023. Quotas allocated to Bosnia and Herzegovina increased slightly compared to Q3 quotas. In Q3, a quota of 33,900/t was opened for Bosnia and Herzegovina, compared to 32,330/t in the previous quarter.
In Moldova, there was a halving in Q2 compared to the quota allocated at the beginning of 2023. There was no significant jump in this decline in the third quarter. The quota increased slightly from 27,021/t in Q2 to 28,333/t in Q3. The wire rod quota for Moldova was 69,056/t.
The EU allocated quotas to the countries were as follows;
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