Rapid quota uptake, reduced imports may drive late-2023 steel HRC price rebound in EU, sources say

The rapid uptake of the safeguard quotas for European Union imports was likely to drive a rebound in the prices for steel hot-rolled coil in the fourth quarter of the year, industry sources told Fastmarkets on Wednesday July 26.

As of July 25, 88% of the total quarterly allocation of 933,743 tonnes in the “other countries” category, for the period from July 1 until September 30, had been taken...