US to raise tariffs on Chinese steel products to 25 percent

In a statement from the White House, US President Joe Biden has announced that existing 0-7.5 percent import duties on Chinese steel products under the Section 301 tariffs will be increased to 25 percent this year. The decision, which was made following a review by the US Trade Representative, is designed to encourage China, the largest contributor to the global steel overcapacity issue, to eliminate its unfair trade practices, the statement indicated. According... Read More

Short Range Outlook : June 2015

Slight improvement in trading atmosphere It seems that the general trading atmosphere has become slightly better in the global long steel market. The imbalances which we have gotten used to have diminished somewhat and therefore traditional trade routes seem to be chosen again. The strengthening of the Russian currency and the reduced influx of Chinese steel to far away markets are having an impact. Demand picks up in Europe, interest in imports declines The... Read More