US DOC raises preliminary antidumping duty rates for Mexican rebar
The US Department of Commerce (DOC) announced new preliminary antidumping duties against reinforcing bar imports from Mexico after an administrative review. During the review period of Nov. 1, 2017 to Oct. 31, 2018, Mexican reinforcing bar producers Deacero and Grupo Simec were found to have made sales of reinforcing bar at less than normal value. As such, the DOC has issued higher... Read More
US announced new sanctions on Iran
The Trump administration announced today new sanctions on Iran, with specific sanctions against the country’s largest iron and steel manufacturers. “The President is issuing an executive order authorizing the imposition of additional sanctions against any individual owning, operating, trading with, or assisting sectors of the Iranian economy including construction, manufacturing,... Read More
Short Range Outlook : January 2020
Global longs market appears in better shape, with sentiment also improving The global long steel products market is surely in a better shape today although we have yet to emerge from a slow-activity period due to the holidays in Europe and around the globe. However, real sentiment in the market is pretty positive, especially after the announcement that a trade deal between the US... Read More
ABEF provides information on new import regulation in Algeria
Algeria’s Association of Banks and Financial Institutions (ABEF) has provided information regarding the new import trade regulation, which is expected to come in force starting from January 1, 2020. According to the document, importers in Algeria should prioritize operations on FOB basis over CFR basis purchases and give preference to the local shipping companies, while previously... Read More
US not to pursue tariffs on Brazilian steel
Brazilian leader Jair Bolsonaro announced on social media following a conversation he had with Donald Trump that the US President has decided not to pursue tariffs on Brazilian steel. The US was threatening to reimpose the 25 percent safeguard duty on imports of Brazilian steel and the 10 percent tax on imports of ex-Brazil aluminium. No official document has yet been released by... Read More
Ukraine introduces antidumping duty on steel bars from Belarus and Moldova
Ukraine introduces antidumping duty on steel bar imports from Belarus and Moldova. Accordingly, exporters from Belarus will be subject to an antidumping duty of 31.08 percent, while Belarusian Metallurgical Plant (BMZ) and its Lithuanian exporting arm BMZ-Baltic Trading House have zero duties. On the other hand, the antidumping duties stand at 13.80 percent for Moldavian Metallurgical... Read More
Short Range Outlook : December 2019
Tight margins and cautious sentiment in global longs market despite output cuts at BFs There is still no clarity and no sign of economic recovery around the globe. Nevertheless, European and US production cuts at blast furnaces for extended periods have given much needed relief to the rest of the steel industry. The global long steel products market is picking up due to the production... Read More
The US has reinstated tariffs on all steel imports from Brazil and Argentina
The US has reinstated tariffs on all steel and aluminum imports from Brazil and Argentina with immediate effect, on currency issues, US President Donald Trump tweeted earlier today. The Trump administration imposed a blanket 25% tariff on all steel imports, and of 10% on all aluminum imports, in March 2018 under Section 232 legislation,. Later in June 2018, the restrictions on... Read More
Short Range Outlook : November 2019
Confusing environment prevails in global long steel products market The current environment in the global long steel products market is confusing. The raw material for blast furnaces is becoming cheaper, while ferrous scrap is getting more expensive and we observe increasing prices for both reinforcing bars and hot rolled coils. Customers are making inquiries for longer than they... Read More
US DOC initiates circumvention inquiry into Mexican rebar
The US Department of Commerce announced the initiation of a circumvention inquiry into imports of steel concrete reinforcing steel bar from Mexico, to determine if imports of reinforcing bars that are bent at one or both ends circumvent the existing antidumping duty (AD) and countervailing duty (CVD) orders. In 2018, imports of reinforcing bars from Mexico were valued at an estimated... Read More