The latest weekly quota review by SteelRadar, which assesses the latest situation in EU quotas, reveals that in the Asian region, China is making rapid progress in quota utilization, while Taiwan and Japan continue to be slow in quota utilization towards the end of the year.
Looking at the quota utilization figures for October 1-December 12, China used all of its 4B metallic coated sheet, sheet pile, pipe (other welded) quotas as of the first week of October.
While China is expected to complete its quotas of 30,884/t 3b siliconized sheet (93.91%) and 38,319/t pipe (other seamless) (98.65%) next week, it has used 29.43% of its quota of 4,907/ stainless HR quarto sheet, 30.90% of its quota of 1,249/t stainless pipe (seamless), 28.94% of its quota of 38,280/t cold drawn bar and 28.00% of its quota of 112,056/t non-alloy steel wire.
Taiwan continues to have weaker quota utilization
Taiwan, on the other hand, has been weak in overall quota utilization and has not yet used all of its quota. However, it has used more than half of its quotas of 24,154/t 3b silica sheet and 22,724/t organic coated sheet.
In terms of other product-based quota utilization, 20.67% of 57,045/t stainless HR quarto sheet, 25.67% of 7,893/t stainless wire rod and 27.94% of 13,119/t pipe (other welded) were used. Expectations for Taiwan to utilize all of its remaining quotas are negative.
Japan remains cautious on utilization
In addition, Japan, which had only 2 products allocated to it, used 72.84% of its quota of 1,594/t stainless wire rod and only 24.68% of its quota of 1,584 stainless pipe (seamless).
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