Trump administration backs down on 50 percent tariffs for Canada following Canadian concessions on power price hikes
Following earlier reports that the Trump administration would impose doubled 50 percent tariffs on Canadian exports of steel and aluminum in reaction to an earlier decision by the Canadian government to impose 25 percent increases in electricity prices to Michigan, Minnesota and New York, administration officials said later today that US will drop the additional tariffs against Canada, defaulting to the original 25 percent tax on metals scheduled... Read More
EU lowers import quota volumes, introduces new quota caps
The European Commission has announced the findings of its functioning review of the safeguard measure on imports of certain steel products initiated on December 17, 2024, and has made adjustments to the measures. The commission has decreased the tariff-rate quota volumes for some products by lowering the liberalization rate to 0.1 percent from the current one percent to ensure the effectiveness of the measure. The EU’s safeguard measures will still... Read More
Trump announces 25% tariff on steel and aluminum imports
US President Donald Trump has announced 25 percent tariffs on foreign steel and aluminum imports on Monday, February 10. Trump stated that the tariffs, which will apply to the products from trading partners with duty-free exemptions or tariff-rate quota deals, including Canada, Mexico, Australia, Argentina, Brazil, South Korea, the EU, Japan and the UK, will be effective as of March 12, 2025. However, a White House official subsequently stated that... Read More
Short Range Outlook : February 2025
Global longs market under very strong pressure from Chinese exports, Trump 2.0 brings uncertainty and volatility The global long steel products market is currently under very strong pressure mainly because of Chinese exports, which have been increasing and not showing any signs of slowing down. We have already seen what Trump 2.0 means – uncertainty, volatility and a lack of visibility. It seems like the situation will get even worse until the... Read More
Short Range Outlook : January 2025
Pressure still rising in global longs market, some answers expected after January 20 The pressure in the global long steel products market is increasing as there is no positive news from China yet, while everywhere there is weak demand, market protection and excess capacity. Some questions about the future are expected to receive answers after Trump’s inauguration on January 20 Still no positive news heard from China Chinese export data for November... Read More
US rescinds review of antidumping duty order on wire rod imports from Ukraine
The US Department of Commerce (DOC) has announced that it has rescinded the administrative review of the antidumping duty order against wire rod imports from Ukraine for the period of review between March 1, 2023, and February 29, 2024. The review, which was initiated on May 8, 2024, originally covered the following six companies: ArcelorMittal Steel Kryvyi Rih; Public Joint Stock Company Yenakiieve Iron and Steel Works; PrJSC Electrometallurgical... Read More
Short Range Outlook : December 2024
Global longs market enters holiday season, but deep uncertainties lie ahead next year The global long steel products market has mostly entered the holiday period. In many markets, business will start moving only after January 13. Many uncertain factors lie ahead for the post-holiday period, including the situation regarding Chinese exports, the actions likely to be taken by the new US administration and the difficulties faced by the steel industry... Read More
US issues preliminary antidumping review results on wire rod imports from Mexico
The US DOC has announced the preliminary results of its administrative review of the antidumping duty order on carbon and certain alloy steel wire rod imports from Mexico. During the review period from October 1, 2022, to September 30, 2023, some Mexican producers were found to have made sales of the subject products at less than normal value. The DOC has determined weighted average dumping margins of 18.09 percent for TA 2000 S.A. de C.V. and 13.46... Read More
Short Range Outlook : November 2024
Gloomy demand picture prevails in global longs market, but possible bright spots on horizon The supply and demand balance in the global long steel products market is being impacted strongly by low demand and it is reasonable to expect that, if the US introduces new market protection measures, other countries will follow. There is simply not enough demand in the world for all the steel produced. Despite the overall gloomy scenario of mostly insufficient... Read More
US issues final results of antidumping review on wire rod from South Korea
The US Department of Commerce (DOC) has announced the final results of its administrative review of the antidumping duty order on carbon and alloy steel wire rod imports from South Korea for the period between May 1, 2022, and April 20, 2023. During the given period, some South Korean producers were found to have made sales of the given products at less than normal value. The DOC has calculated a weighted-average dumping margin of 0.85 percent for... Read More