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
Short Range Outlook : August 2018
Global long steel market currently in equilibrium, though world steel output is on the rise The global long steel products market seems to be in equilibrium at present, with slightly higher freight rates. World steel production is up by six percent, while this situation needs to be monitored. If this continues to be the case for another year or so, we might experience disturbance in the supply-and-demand balance in certain areas. International business... 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
Short Range Outlook : July 2018
Global long steel products market impacted more and more by protectionism, though demand performs well The global long steel products market is feeling the effects of protectionism more and more every day. Canada has started another investigation on imports, the third within a period of only 12 months. The EU is expected to announce quotas based on the average import volumes of the preceding three years, as a result of its safeguard investigation.... 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
US amends final AD/CVD decision on wire rod imports from Turkey, Spain
The US Department of Commerce (US DOC) has announced that, with respect to its final determinations in the antidumping duty investigations of imports of carbon and alloy steel wire rod from Italy, South Korea, Spain, Turkey and the UK and countervailing duty investigations of the same imports from Italy and Turkey, to correct ministerial errors, it has amended the final antidumping duty rates for Turkey and Spain and the countervailing duty rates... 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