Three weeks before the end of December, a distinct situation is emerging in the global steel trade, especially as major steel producing countries adopt a cautious approach to utilising their quotas.
According to the report, among the countries that fully utilised their quotas, Turkiye filled its quotas with 1,554 tonnes of railway materials and 98,208 tonnes of hollow sections. China has fully utilised its quotas of 127,995 tonnes of 4B metallic coated sheet, 6,987 tonnes of sheet piles and 8,058 tonnes of welded tubes, while India has fully consumed its quota of 31,678 tonnes of stainless bars and light sections, 5,870 tonnes of stainless seamless tubes and 78,453 tonnes of organic coated steel.
However, overall, the utilisation trend of EU steel quotas is slow. This cautious attitude shows that countries tend to adopt a protective approach against global economic uncertainties and fluctuations in supply-demand balances.