Short Range Outlook : May 2022
Global longs market faces challenges and uncertainties amid ongoing war in Ukraine Some oversupply is observed here and there in the global long steel products market. The market situation is getting worse. In particular, there is a vacuum in Western markets due to the war in Ukraine. Price hikes were very rapid and very steep, which could be a reason. Energy prices have negatively impacted manufacturing, especially in Europe. Inflation is another... Read More
US issues final results of antidumping review on rebar imports from Turkey
The US Department of Commerce (DOC) has announced the final results of its administrative review of the antidumping (AD) duty order on reinforcing bar imports from Turkey for the period between July 1, 2019 and June 30, 2020. Accordingly, the US DOC has determined that Turkey’s sales of the subject goods were made below normal value during the period of review. Additionally, the DOC found that Colakoglu Metalürji did not make sales of the subject... Read More
US DOC amends its antidumping orders for rebar from Turkey again
The US Department of Commerce (DOC) has announced that it has again amended the order and the final determination regarding its antidumping investigation on imports of reinforcing bars from Turkey, on the grounds that the final determination was not in harmony with the United States Court of International Trade (CIT). Accordingly, the DOC has determined the following new dumping margins: HABAS – 3.96 percent ICDAS – 4.17 percent All others... 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
Short Range Outlook : December 2021
Demand slows in global longs market, higher costs to reduce price erosion Demand is slowing down in the global long steel products market as we have entered the slow season in the northern hemisphere and the holidays are approaching. Market activity may remain slow until the Chinese New Year holidays and so we may see further price erosion in the coming weeks. However, such erosion should be limited due to higher costs of production. There is an energy... Read More
US issues preliminary CVD review results on rebar from Turkey
The US Department of Commerce (DOC) has announced the preliminary results of its administrative review of the countervailing duty (CVD) order on rebar from Turkey. Accordingly, the DOC has preliminarily determined that Turkish suppliers Kaptan Demir Celik and Icdas received a countervailable subsidy rate at 1.75 percent for the period from January 1, 2019, through December 31, 2019. On the other hand, Colakoglu Dis Ticaret received a subsidy rate... 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
Egypt cancels safeguard duties on billet and rebar imports
The Egyptian Minister of Trade and Industry, Nevine Gamea, has issued two ministerial decrees to cancel safeguard import duties on billets, rebar, and aluminium products. The cancellation will be effective as of the following day of the publication date of the two decrees in the Official Gazette, according to a statement on Sunday, 14th of November. The decision is aimed at supporting local producers and exporters in the face of the global inflation... Read More
Short Range Outlook : November 2021
Supply and demand balanced in global longs market, energy costs and logistics bring uncertainties Supply and demand are balanced in the global long steel products market, as regional producers are now back to almost normal lead times. Energy prices are soaring and logistical challenges have made business more uncertain, though underlying demand remains solid in Europe and North America. The ongoing weakness in China may slow its imports, which could... 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