US extends steel TRQs for EU for another two years
The US has determined that specified volumes of steel product imports from the European Union will no longer threaten to impair national security, according to a statement by US President Joe Biden. Therefore, the tariff-rate quotas (TRQs) for steel and aluminum imports allocated to the EU have been extended for another two years until December 31, 2025. The tariff-rate quota volume specified in the 2021 agreement between the United States and the... Read More
IREPAS in Istanbul: Uncertainty prevails in slow market with weak demand
The 89th meeting of IREPAS (the International Rebar Exporters and Producers Association) was held in Istanbul on September 17-19, marking the 40th anniversary of the foundation of the association, in conjunction with the SteelOrbis Fall ’23 Conference. There were 217 representatives from 61 different producers among the 783 registered delegates from a total of 59 different countries. There were also 105 registrations representing 55 different raw... Read More
Short Range Outlook : February 2023
Unpredictability persists in global longs market, recession fears may have been exaggerated The global long steel products market is still characterized by unpredictability. China’s impact on the global markets is still an open question and this contributes to the unpredictability for the second quarter. It seems that customers heard too much talk of recession last year and were convinced that all construction would stop in 2023. Actually, it looks... Read More
EU extends steel safeguard measures for another three years
The European Commission has announced the extension of the EU’s safeguard measures encompassing 26 steel product categories for another three years until June 30, 2024, preserving traditional trade flows on a per-product-category basis. The Commission has also increased the quota volumes by three percent, and a 25 percent tariff duty will be applied on the products if the tariff rate quotas are exceeded. There will be a review to determine whether... Read More
EU reduces import quota volumes after UK’s inclusion in quota regime
The European Commission, which has now included the UK among the countries that are subject to import quotas for steel products, has also reduced the existing quota volumes for other countries which were already under the quota scheme. The reduced quotas will be in force as of January 1, 2021, and so in the two last quarters under the quota regime the countries will have less opportunity to export to the EU. The EC said that the changes in quota volumes... Read More
EU announces import steel quota volumes for UK
The European Commission (EC) has announced the imposition of definitive safeguard measures on imports of certain steel products from the UK, as they will not be in the same trading area with the UK after Brexit. Without this specific quota for the UK, the UK steel sector could have faced a £80 million bill from EU steel safeguard tariffs in the first half of 2021, UK Steel and Steel Trade Union Community stated. The UK will be subject to a 25 percent... 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
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
Short Range Outlook : May 2019
Global long steel market mostly unstable despite supply-demand equilibrium A balance has been maintained between supply and demand in the global long steel products market, but it is still difficult to transact business globally. However, shorter-distance regional business is good. The global market can be described as mostly unstable, with only a few exceptions. Absence of Chinese still provides support for the rest of the world We have to take into... Read More
EU transfers unused quotas to “other countries”
The European Commission has transferred the quotas under “other countries” and “all third countries” which were unused between February 2 and March 31 to the “other countries” quotas for the April 1-June 30 period as of May 2. Accordingly, an additional volume of 19,704 mt has been added to the “other countries” rebar quota, which had been quickly used up in early April when the “other countries” quotas became available to all... Read More