Canada starts antidumping probe on rebar imports from seven countries
The Canada Border Services Agency (CBSA) has announced that it has initiated an antidumping duty investigation on certain concrete reinforcing bar from Algeria, Egypt, Indonesia, Italy, Malaysia, Singapore and Vietnam, after a complaint filed by Canadian steelmakers AltaSteel Inc., ArcelorMittal Long products Canada G.P. and Gerdau Ameristeel Corporation. The products subject to antidumping duty investigation currently fall under Customs Tariff Statistics... Read More
US Senate passes USMCA trade deal
The US Senate passed the new United States-Mexico-Canada Agreement (USMCA) trade agreement Thursday in an 89-10 vote, with the legislation now bound for the US President Donald Trump to sign. Read More
Short Range Outlook : June 2019
Uncertainty in global long steel products market increases dramatically The uncertainty in the global long steel products market has increased dramatically. Nowadays, the most stable region is China, where steelmakers have been increasing their weekly production volumes, whereas the rest of the world is just trying to hang on. Ferrous scrap and iron ore price trends decouple completely Ferrous scrap and iron ore price trends have completely decoupled. Iron... Read More
US to impose five percent tariff on all Mexican goods as of June 10
According to a White House statement, US President Donald Trump has said that, starting on June 10, the United States will impose a five percent tariff on all goods imported from Mexico. He added that this tariff will be increased up to 25 percent in the coming period if Mexico does not take action to dramatically reduce or eliminate the number of illegal aliens crossing its territory into the US. The White House statement indicated that, if the illegal... Read More
Canada and Mexico officially lift retaliatory tariffs against the US
According to multiple news reports, Canada and Mexico on Monday lifted retaliatory tariffs on US goods, including steel, aluminum, whiskey and beef, after the US lifted on Friday Section 232 tariffs on steel and aluminum imports from the two countries. All three countries are currently working on ratifying the new USMCA trade deal. Canada and Mexico had both insisted previously that the tariffs be lifted before the trade deal was implemented. Read More
US to lift Section 232 tariffs on Canadian and Mexican imports
In a joint statement today, the US and Canadian governments announced the US will lift Section 232 duties on steel and aluminum imports from Canada and Mexico, in anticipation of ratifying the new USMCA trade deal. Canada in turn will remove retaliatory tariffs on US exports to the country. In addition, the US and Canada will drop all pending litigation in the World Trade Organization related to the tariffs, set up measures to prevent “unfairly... Read More
CITT has not recommended final safeguard duty for rebar or wire rods
The Canadian International Trade Tribunal (CITT) has recommended final safeguard duties for only two steel products, i.e., heavy plate and stainless steel wire, from among the seven steel products that have already been subject to provisional safeguard duties since October 2018. For the remaining five products, the CITT has either found no increase in imports or found that imports have not harmed the Canadian steel industry. In October 2018, Canada... Read More
Short Range Outlook : March 2019
Positive mood prevails in global long steel products market despite virus of protectionism The global long steel products market is currently in a positive mood amid good demand worldwide. Had there not been protectionist actions like additional tariffs, quotas or safeguard measures, the global business scenario would be much better. Protectionism is like a virus, expanding and hurting the international trade environment as we knew it. Canada and... Read More
Canada exempts Mexico from safeguard measures on wire rod imports
Canadian finance minister Bill Morneau has exempted NAFTA ally Mexico from controversial safeguard measures on imports of energy tubular products and wire rod, as reported by Canada-based CBC News. Accordingly, the imports of these products from Mexico will no longer cost an extra 25 percent, effective as of February 2, 2019. The duties already paid by Mexican steel purchasers will be refunded. Finance minister Morneau’s spokesperson Pierre-Olivier... Read More
Short Range Outlook : December 2018
Global long steel market facing many unknowns amid protectionism and price corrections There is huge uncertainty in the global long steel products market as there are a lot of unknowns against the backdrop of protectionist measures and price corrections. US-China ceasefire may reduce volatility in international market The trade dispute between the US and China has been kicked down the road for another 90 days. The ceasefire in the trade war between... Read More