9,312.13 TRY BIST 100 BIST 100
38.20 USD USD USD
5.25 CNY CNY CNY
43.91 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.74 TRY Interest Interest
66.21 USD Fossil Oil Fossil Oil
41.10 USD Silver Silver
488.00 USD Copper Copper
100.29 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,091.06 TRY Gold (gr) Gold (gr)

UK imposes new safeguard measures on steel imports

As the UK restructures its post-Brexit trade policies, it is also reviewing its safeguard measures for the steel sector.

UK imposes new safeguard measures on steel imports

However, recent developments in the steel industry, particularly Tata Steel's planned major changes to its production facilities in Port Talbot, have prompted a review of these measures. Tata Steel plans to replace its existing blast furnaces and coke ovens with electric arc furnaces powered by green energy. As these changes will lead to a reduction in HRC production, new regulations may be needed to meet the UK's growing demand for imports.

The UK Trade Remedies Authority (TRA) has launched two separate reviews to reassess TRQ levels and review possible provisional suspension decisions in line with this new situation. These reviews are intended to balance the balance between UK producers and importers. The TRA emphasized that it has taken care to maintain a transparent dialogue and gather evidence from all interested parties in this process.

The UK protects critical steel products, particularly in the industrial and construction sectors. These products include rolled flat steel, molds and plates, rolled long steel products and stainless steel. The tariff quota (TRQ) levels set for products in these categories envisage the imposition of an additional customs duty of 25% on the quantity of imports. These types of steel, which are widely used especially in the construction and automotive sectors, are subject to such strict regulations in order to support local production.

These processes may also cause fluctuations in international trade. In particular, changes in import quotas or new duties may affect import and export volumes and prices. This can reshape the overall flow of trade and economic balances. TRA is closely monitoring this situation and assessing the impact of the measures on the UK economy.

Product HS Codes: The following products are covered by the UK's safeguard measures on steel imports:
Non-alloy and other alloy hot rolled
Sheets and strips 72081000, 72082500, 72082600, 72082700, 72083600, 72083700, 72083800, 72083900, 72084000, 72085210, 72085299, 72085310, 72085390, 72085400, 72111300, 72111400, 72111900, 72126000, 72251910, 72253010, 72253030, 72253090, 72254015, 72254090, 72261910, 72269120, 72269191, 7226919

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Qatar Chamber and German delegation strengthen economic cooperation

Thursday, April 24, 2025

Mining partnership between Algeria and China

Thursday, April 24, 2025

Europe in the Process of Green Transformation: Is the Steel Industry Ready for Carbon Adjustment at the Border? 

Thursday, April 24, 2025

İÇDAŞ signs tugboat agreement with maritime company Damen

Thursday, April 24, 2025

Canada launches AD investigation into steel imports from 10 countries, including Türkiye

Thursday, April 24, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now