Trump postpones tariffs on Canada and Mexico for 30 days
US President Donald Trump has stated via social media that he has decided to postpone the recently announced additional 25 percent tariffs on imports from Canada and Mexico. Following the tariff announcements, Trump held conversations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, in which he expressed his concerns regarding border security. The Canadian and Mexican administrations made various commitments to... Read More
US officially imposes tariffs on Canada, Mexico and China
US President Donald Trump has imposed 25 percent additional tariffs on imports from Canada and Mexico and a 10 percent additional tariff on imports from China with the aim of ensuring national security and protecting the interests of Americans, according to a statement released by the White House. The tariffs in question will remain in force until the subject countries meet President Trump’s requirements. In the meantime should these countries... Read More
Short Range Outlook : January 2025
Pressure still rising in global longs market, some answers expected after January 20 The pressure in the global long steel products market is increasing as there is no positive news from China yet, while everywhere there is weak demand, market protection and excess capacity. Some questions about the future are expected to receive answers after Trump’s inauguration on January 20 Still no positive news heard from China Chinese export data for November... Read More
Short Range Outlook : December 2024
Global longs market enters holiday season, but deep uncertainties lie ahead next year The global long steel products market has mostly entered the holiday period. In many markets, business will start moving only after January 13. Many uncertain factors lie ahead for the post-holiday period, including the situation regarding Chinese exports, the actions likely to be taken by the new US administration and the difficulties faced by the steel industry... Read More
Short Range Outlook : November 2024
Gloomy demand picture prevails in global longs market, but possible bright spots on horizon The supply and demand balance in the global long steel products market is being impacted strongly by low demand and it is reasonable to expect that, if the US introduces new market protection measures, other countries will follow. There is simply not enough demand in the world for all the steel produced. Despite the overall gloomy scenario of mostly insufficient... Read More
IREPAS in Istanbul: War in Ukraine has fundamentally changed sentiment and product flows
The 86th meeting of IREPAS (the International Rebar Exporters and Producers Association) was held in Istanbul, Turkey, on May 29-31, 2022, in conjunction with the SteelOrbis Spring ’22 Conference. There were 191 producer representatives from 60 different companies among the record high 766 registered delegates from a total of 59 different countries. There were also 105 registrations representing 51 different raw material suppliers. At the opening... Read More
Short Range Outlook : March 2021
Spring brings generally bright prospects for global long steel market The current situation and sentiments are generally very good in the global long steel products market. Order books are mostly filled to above average levels. The holiday season is over, winter in the northern hemisphere is coming to an end and vaccinations are progressing. These factors as well as stimulus activities, a will to return to normal, and strong investments are all strong... Read More
US Court of International Trade ruled the additional tariffs on Turkish exports unconstitutional
The US Court of International Trade has ruled that the additional tariffs (additional 25 per cent) imposed by US President Donald Trump on Turkish steel exports are unconstitutional. Following the court’s decision, Turkish steel exporters are preparing to claim compensation for the damages that Trump’s ruling has caused them. Read More
US Senate passes USMCA trade deal
The US Senate passed the new United States-Mexico-Canada Agreement (USMCA) trade agreement Thursday in an 89-10 vote, with the legislation now bound for the US President Donald Trump to sign. Read More
US signs phase one trade deal with China
The White House has announced that the US has signed the phase one trade agreement with China. As a part of the new agreement, China has pledged to increase imports of American goods and services by at least $200 billion over the next two years, and the trajectory is expected to continue even after 2021. China has also agreed to purchase between $40 and $50 billion in American agricultural goods each year for two years., According to the agreement,... Read More