President Trump increases “Buy American” threshold to 95 percent

US President Donald Trump signed an executive order Monday, July the 15th that will require federal agencies to purchase products using more American components. The order strengthens the standards that federal agencies must follow under the Buy American Act, which creates a preference for American-made goods. Trump said his order will gradually boost the percentage of U.S. components for qualifying American-made products from 50 percent to 75 percent. He said the threshold would... Read More

Short Range Outlook : July 2019

Uncertainty still prevails in global longs market , while BOF production faces severe pressure The outlook for the global long steel products market differs for the scrap industry, the steel producing industry and for steel consumers. The market can be described as generally unstable as there is still a lot of uncertainty and even a tweet may turn a lot of things upside down. We are going through a tough period particularly for BOF-based producers, especially due to increasing... Read More

Egyptian court suspends safeguard duty on billet and rebar imports

An Egyptian administrative court has suspended the country’s preliminary safeguard duty on billet and rebar imports, according to reports. The Egyptian government imposed a 15 percent safeguard duty on steel billet imports and 25 percent duty on reinforcing bar imports for a period of 180 days starting from April 15. Last month, Egyptian rerollers decided to take legal action to challenge the import duty on billet.  Read More