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 the US on the issue. 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 Plant (MMZ) and at 35.37 percent for other exporters of steel bar... 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 cuts, as anticipated. However, there may not be a considerable... 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 Brazil and Argentinian steel and aluminum were converted to a quota system.... 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 $51 million. The inquiry was initiated in response to requests from... Read More
Mexico to reduce steel import tariffs gradually up to 2024
Mexico’s Ministry of Economy has announced that it has adjusted the import tariffs originally imposed on certain steel products, according to Mexico’s official gazette. Accordingly, the import duties will be reduced gradually to 10 percent, seven percent, five percent and three percent by August 22, 2024. For some products, the duty will be completely removed by August 22, 2024. These steel products include steel sheet, cold rolled sheet, hot... Read More
Malaysia imposes preliminary antidumping duty on rebar imports from Turkey and Singapore
Malaysia’s Ministry of International Trade and Industry has announced that it will implement preliminary antidumping duties on rebar from Turkish firms, except Colakoglu Metalurji A.S., and on Singaporean firms. The ministry has assigned preliminary dumping rates in the range of 5.99-17.65 percent to Singaporean firms and preliminary dumping rates in the range of 3.35-20.09 percent for Turkish firms. The petitioner is the Malaysia Steel Association. The... Read More
IREPAS in Duesseldorf : Changing trade flows and market challenges discussed against backdrop of protectionism, trade conflicts and depressed conditions
The 81st meeting of IREPAS (the International Rebar Exporters and Producers Association) was held in Duesseldorf, Germany on September 22-24, 2019 in conjunction with the SteelOrbis Fall’19 Conference. There were 138 producer representatives among the 426 registered delegates from a total of 46 different countries. There were also 78 registrations representing 38 different raw material suppliers. At the opening of the conference, Murat Cebecioglu,... Read More
Short Range Outlook : September 2019
Global long steel market currently depressed amid more difficult circumstances The global long steel products market is depressed at the moment as circumstances are becoming more difficult. It has become a buyer’s market and is difficult to secure orders at reasonable prices. The problem lies more on the demand side rather than with supply, and, therefore, it might take longer for a balance to be reached. Steel prices decline amid sharp drops in... Read More
Russian Federation sets quota for scrap exports till end of 2019
Russian authorities have officially set the quota for the steel scrap exports to the countries excluding the members of the Eurasian Economic Union in order to protect the local steel industry. The official document, signed on August 31, implies the total allowed export volume of 1.009,2 million mt of scrap for the period from September 1 to December 31 of the current year. The Ministry of the Industry and Trade will be responsible for the distribution... Read More