US doubles the tariffs on Turkish steel imports

The US President Donald Trump tweeted on Friday August the 10th that he has just authorized to double tariffs on Turkish steel imports. His tweet reads: “I have just authorized a doubling of tariffs on steel and aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong dollar! Aluminum will now be 20 percent and steel 50 percent. Our relations with Turkey are not good at this time!” US... Read More

EU imposes provisional safeguard measures on 23 steel product categories

The European Commission has announced that it has decided to impose provisional safeguard measures on 23 steel product categories, including reinforcing bars, hot rolled products and steel pipes, in the form of a 25 percent out-of-quota tariff. The provisional measures will be applied for 200 calendar days beginning from July 19. The commission has preliminarily decided that the EU steel industry is in a situation of threat of serious injury for the... Read More

EU votes in favor of provisional safeguard measures

European Union voted on July 5th in favor of provisional measures against steel imports under the scope the safeguard investigation launched as a response to Section 232 tariffs in the US. The European Commission has proposed a combination of a quota and a tariff as expected. The quota will be based on import volumes over recent years and a 25 percent tariff will apply for the volumes exceeding that amount.  Read More

US DOC issues first exclusions from Section 232 tariffs on steel imports

The US Department of Commerce (US DOC) has announced that its Bureau of Industry and Security (BIS) has begun granting its first product exclusions from the Section 232 tariffs on imports of steel. The US DOC stated that seven different US companies importing steel products from Japan, Sweden, Belgium, Germany and China have been excluded from the 25 percent additional duties on steel imports. The companies receiving the exclusions are as follows: Schick... Read More

Short Range Outlook : June 2018

Global long steel market to see some stability in short term after Section 232 decision The global long steel products market is expected to see some stability in the short term after the US imposed tariffs on steel imports from June 1 on the European Union, Canada and México, which were all exempted from the tariffs during May. The Section 232 measures are now the same for the EU, Turkey, Canada and México, but the uncertainty in the market has... Read More

No deal: US puts tariffs on steel and aluminum imports from EU, Canada and Mexico

US commerce secretary Wilbur Ross has said that a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from the EU, Canada and Mexico will go into effect at midnight, June 1. In March, the US imposed 25 percent duty on steel imports, while granting exemptions to the EU and some other countries until May 1, before later extending the deadline until June 1. Canada, Mexico, and the European Union have already vowed to retaliate... Read More

EU notifies WTO of potential counter-measures on certain US products

The World Trade Organization (WTO) has announced that the European Union (EU) has notified the WTO’s Council for Trade in Goods of its proposed suspension of concessions and other obligations that are substantially equivalent to the amount of trade affected by the measures imposed by the United States (US). Accordingly, the EU has stated that it reserves its right to take counter-measures against the US tariffs on steel and aluminum imports. According... Read More

IREPAS in Warsaw: Confusion and uncertainty in the global market

The 78th meeting of IREPAS (International Rebar Exporters and Producers Association) was held in Warsaw, Poland on May 6-8, 2018. There were 117 producer representatives among the 320 registered delegates from 48 different countries. There were also 62 registrations representing 40 different raw material suppliers. At the opening of the conference, Murat Cebecioglu, chairman of IREPAS emphasized that there is obvious confusion and uncertainty in the... Read More

Decision on Section 232 exemptions delayed until June 1

U.S. President Trump will reportedly delay the decision whether to impose steel and aluminum tariffs on countries currently exempted from the Section 232 tariffs until June 1. The administration is expected to finalize deals with the European Union, Canada and Mexico, while reaching “agreements in principle” with Australia, Argentina and Brazil. The details of those agreements will be finalized in the next 30 days.  Read More

Short Range Outlook : April 2018

Confusion and uncertainty reign in global long products market There is obvious confusion and uncertainty in the global long steel products market triggered by the announcement of new tariffs on steel imports by President Trump as a result of the Section 232 investigation in the US, the subsequent exemptions from these tariffs, and the resulting safeguard investigation announced in the EU. Major exporters to the US – Canada, Mexico, Brazil,... Read More

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