European market sources are continuing to speculate on the possible imposition of duties on the import of CRC and HRC into the continent, despite an easing of the pressure of these imports on the market during recent weeks.
As previously reported, the market is still expecting a decision regarding the investigation concerning CRC imports from China and Russia. The investigation was launched in May this year and has had the result of cooling down somewhat the import of the products from these countries.
A senior source at a European service center said that he expects the duties on Chinese CRC to be imposed, while he believes Russian suppliers might be excluded.
In Spain the national press reported executives from the Spanish government saying that they expect the first measures to be imposed in December this year, but would not specify for which steel product.
Meanwhile speculation continues to grow on the possible initiation of an investigation concerning HRC. A trader said he heard the investigation has started and that there will be provisional measures imposed soon, but other sources said they have not heard of any change in the market in this respect for the moment.
Sources noted that for HRC Chinese suppliers are struggling to be competitive at the moment, while the most attractive offers are arriving from Russia at as low as €280/metric ton CIF Southern Europe and from Iran at similar levels.
— Emanuele Norsa, PLATTS