Indonesian hot and cold rolled stainless steel sheets and strips will be included in the European system of guarantees from the beginning of October, according to the latest approved amendment to the guarantees.
Indonesia was originally listed as a developing country by the World Trade Organization (WTO) and thus had no guarantees. However, a spike in the amount of Indonesian cold rolled stainless steel sold by the EU in the first half of 2019 prompted the European Iron and Steel Association (Eurofer) and many market participants to demand amendments to the guarantees.
After the adoption of amendments to the guarantees, imports of Indonesian steel will be allocated in the form of quotas from “other countries”. From July 2019 to June 2020, the “other countries” quota for hot-rolled steel was only 25,000 tons, and for cold-rolled steel was 128,000 tons.
Indonesian stainless steel will be included in the EU security system from October
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