Short Range Outlook : April 2022
War in Ukraine a major gamechanger for global longs market The war in Ukraine has changed sentiment in the global long steel products market as well as fundamentally altering the flow of raw materials and finished products almost overnight. There is more demand than secure supply in the market. Before the war, the expectations were that demand would determine the direction of prices, contrary to 2021 when supply was the driving factor. Today, however,... Read More
Short Range Outlook : March 2022
Global longs market at unprecedented juncture after Russia’s invasion of Ukraine The global long steel products market has entered a new and completely unprecedented situation as a result of the war in Ukraine. The current situation means one of the largest suppliers of many raw and semi-processed materials will be completely excluded from the market for an unforeseeable period of time, with the consequences being almost impossible to predict at... Read More
Mexico extends antidumping duty on Ukrainian wire rod imports for five more years
Mexico’s economy secretariat, SE, extended existing anti-dumping (AD) duties over the imports of Ukrainian wire rod for five more years. SE said imports of the product, which falls under HS codes 7213.91.03 and 7213.99.99, will continue to be subject to a 41 percent AD levy. The decision follows a request from domestic producers Ternium Mexico, Deacero and TA 2000, formerly known as Talleres y Aceros, in August 2020. The extended antidumping duties... Read More
Ukraine increases export duty on ferrous scrap significantly
On December 2, 2021, Ukraine increased the export duty for steel scrap to €180/mt from the previously valid €58/mt. Earlier, there had been an initiative to raise the tax to €200/mt but the final rate was approved at a lower level. Ukraine-based steel producers had been lobbying for the export tax imposition and its gradual increase for some years now, claiming that strong export activity harms their costs and margins, while preference should... Read More
85th IREPAS meeting : Markets have never been better, great time to be in steel business
The 85th meeting of IREPAS (the International Rebar Exporters and Producers Association) was held as a virtual event to ensure the health and well-being of all participants, on October 18, 2021 in conjunction with the SteelOrbis Fall’21 Conference. There were 223 producer representatives among the 918 registered delegates from a total of 70 different countries. There were also 69 registrations representing 31 different raw material suppliers. At... Read More
Ukraine extends export duty on ferrous scrap for next five years
On May 14th, Ukrainian president Mr Zelensky signed the law extending the duty on the export of ferrous scrap for the next five years, effective from May 15, 2021, to September 15, 2026. “This document extends the period of validity of the export duty rate of €58/mt for waste and scrap of ferrous metals for five years – until September 15, 2026. Such conditions have been created to prevent a shortage of ferrous scrap in Ukraine, which... Read More
Ukraine extends export duty on ferrous scrap
The Ukrainian government has decided to extend the duty on the export of ferrous scrap for the next five years. Accordingly, on April 27 the Ukrainian parliament welcomed and expressed its full support for a five-year extension of the duty on the export of ferrous scrap at the current level, i.e. at €58/mt. Read More
Ukraine levies import duty on imports of reinforcing bars from Belarus
According to a statement published in the country’s Official Gazette on November 25, Ukraine has imposed a special customs duty on imports of reinforcing bars from Belarus, citing Belarus’s discriminatory and unfriendly acts against Ukrainian exporters of similar products. Accordingly, Ukraine’s interdepartmental commission on international trade has imposed a 16.08 percent special customs duty on ex-Belarus steel deformed bars of up to 40 mm... 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
Ukrainian president approves scrap export duty increase
The Ukrainian parliament (Rada) has announced that Ukraine’s president Mr.Petro Poroshenko has approved the bill to increase the export duty on steel scrap from €42/mt to €58/mt for two years until 2021. In early March, the Ukrainian parliament had approved the bill to increase the export duty on scrap, though it revoked it in the following days. Read More