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

Brazil notified WTO it will retaliate against EU following steel quotas

Brazil has officially notified the World Trade Organization (WTO) it will suspend export benefits for the European Union (EU). The notice follows an EU decision to impose a steel tariff quota for exceeding exports of certain steel products from several countries, including Brazil. Brazil told the WTO it intends to suspend export benefits for the EU for 30 days, although the affected European products were not specified. According to the Brazilian... Read More

Mexico to renew 15 percent import tariff

Mexico’s ministry of economy announced yesterday that it will renew a provisional 15 percent tariff against imports of several steel products from countries with which the nation does not have existing trade agreements. The tariff will last for six months, and apply to imports of slab, CRC, HRC, heavy plate and wire rod. The tariff previously expired on Jan. 31, 2019.  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 : February 2019

Price levels improve in global long steel products market despite uncertainties Prices in the global long steel products market are better compared to our last report, though there is a certain degree of uncertainty regarding how sustainable the current price levels are. The situation has gotten worse generally in terms of demand and supply, as there seems to be a general worsening of expectations and the numbers coming in do not bode well. Brazilian... Read More

EU announces definitive safeguard measures on steel imports

The European Commission has announced final measures on steel imports. Accordingly, a tariff-rate quota will be applicable for the period February 2, 2019 to June 30, 2019, thereafter, for the period of July 1, 2019 to June 30, 2020, and, thereafter, for the period July 1, 2020 to June 30, 2021. The European Commission said that, since the duration of the measures is for over a year, the measures must be progressively liberalized at regular intervals... Read More

European Parliament voted in favor of safeguard measures

The European Parliament voted today in favor of the proposed safeguard measures against steel imports. Accordingly, the European Commission is expected to finalize the procedure and measures are expected to enter into force in early February. The proposed measures envisage import quotas for a period between July 1, 2019 and June 30, 2020 and that the quota volumes will be increased by five percent for the period between July 1, 2020 and June 30, 2021. The... Read More

Short Range Outlook : January 2019

Is globalization of the world’s long steel products market now at an end? The global long steel products market is heading towards a more complicated and difficult period as the globalization of the steel business is being rewound amid a clash between liberal and protectionist trade policies that are somehow tied to political ups and downs between world leaders. It seems that global business will be relatively quiet as long as protective measures... Read More

Turkey reinstates ten percent duty on imports of rebar

It has officially been announced that the 10 percent import duty on imports of reinforcing bar to Turkey which was removed at the beginning of 2018 will be reintroduced as of January 1, 2019. The import duty on reinforcing bar in Turkey was first decreased to ten percent from 30 percent in July 2017, and then completely removed as of January 1, 2018.  Read More

EU to impose new quota on imports

According to media sources, the European Commission has sent a notification to the World Trade Organization, stating that the EU will impose import quotas on certain steel products, including rebar and wire rod, for a period of 150 days starting from February 2, 2019.. However, there has been no official announcement yet. Accordingly the import quotas will be in force between July 1, 2019 and June 30, 2020 and that the quota volumes will be increased... Read More

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