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On December 18, 2023, the European Commission released details on the twelfth round of sanctions against Russia. Among them, the European Commission extended the quota for slab imports until September 30, 2028, and the ban on importing billets remained unchanged. Starting from April 1, 2024, the import of billets originating from Russia was prohibited JAC340W steel.
According to the documents of the European Commission, there are four stages of changes in the Russian slab quota from 2024 to 2028. The quota is 3.185 million tons from October 1, 2024 to September 30, 2023, 2.998 million tons from October 1, 2025 to September 30, 2026, 2.623 million tons from October 1, 2026 to September 30, 2027, and 2.061 million tons from October 1, 2027 to September 30, 2028.
In the new sanctions document, the EU also includes Switzerland in the list of partners restricting steel imports from Russia.
The European Commission stated that due to the special needs of some steel industries in the EU, alternative suppliers will need longer time to establish additional production capacity to supplement Russia's raw material supply JAC340W steel.
After the Russia-Ukraine conflict in 2022, the EU refused to import most of Russia's steel products, but instead of prohibiting the import of Russian steel billets, it announced the adoption of import quota system for Russian steel billets. From 2022 to 2024, the EU's quota for Russian slabs is 7.5 million tons, while the quota for Russian slabs is approximately 620000 tons.
According to our data, before the conflict between Russia-Ukraine conflict, the EU had about 7-9 million tons of billet import demand. Russia and Ukraine have always been the two largest billet suppliers in the EU, accounting for more than 80% of the EU's billet imports. At present, Ukraine's production capacity is seriously damaged, and from this year's data, it has not recovered to the previous level, while the EU has imposed sanctions on Russian billet, so the EU's billet import supply is in trouble to some extent, The EU is unable to completely eliminate its dependence on Russian steel billets in the short term JAC340W steel.
