Short Range Outlook : September 2021
Supply and demand balancing out in global longs market, freight still incredibly high In the global long steel products market, there are signs that supply has caught up with demand and that the supply-demand balance is becoming more neutral. The market seems to be getting back to normal in terms of lead times, prices, etc. We are now in a period where things have to get back to normal, which in fact may be different from where it all started. A price... 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
Russia approves steel export taxes
The steel export tax initiative in Russia was approved by the Russian authorities late on June 25. The measure, suggested as a means to curb the rapid price increases for steel in the local market in Russia, will be imposed for the period from August 1 to December 31 this year. The base export rate is 15 percent and each product will be subject to a specific duty component in US dollars per metric ton. This will be calculated depending on the product... Read More
Short Range Outlook : June 2021
Boom continues in the global longs market, how long will it last? There is still a shortage of steel everywhere in the global long steel products market. Demand remains high in the sheltered markets. On the other hand, there is pressure from the Chinese government to reduce steel prices. It is hard to imagine that this will lead to anything but more supply shortages. If we look back at the previous price booms in the global market, circumstances... Read More
US updates antidumping duty rates on Turkish origin rebars
The US Department of Commerce (DOC) has announced the final result of its administrative review of the antidumping duty (AD) order on reinforcing bar from Turkey. During the review period from July 1, 2018, to June 30, 2019, producers from Turkey were found to have made sales of reinforcing bars at less than normal value. Accordingly, the DOC has determined the following weighted-average dumping margins: ICDAS – 5.30 percent Kaptan Demir –... Read More
Canada issues final antidumping duty decisions for rebar imports from seven countries
The Canada Border Services Agency (CBSA) has announced that it has made a final determination regarding the antidumping duty (AD) investigation on certain rebar from Algeria, Egypt, Indonesia, Italy, Malaysia, Singapore and Vietnam. The investigation was initiated in September 2020, after a complaint filed by domestic steelmakers AltaSteel Inc., ArcelorMittal Long Products Canada G.P. and Gerdau Ameristeel Corporation, and the provisional antidumping... Read More
Short Range Outlook : May 2021
Global longs producers hold whip hand amid strong demand, short supply, rising prices Demand in the global long steel products market has continued to increase recently, and particularly demand in China and developed economies continues to push the market up. At the same time, international supply has tightened even further. Most mills are offering a few months ahead, thereby contributing to upward movement of prices. There are imbalances in rebar... Read More
China to remove export tax rebates on 146 steel products including rebar and wire rods
China has decided to lift the export tax rebates on 146 kinds of steel products as of May 1, according to an announcement issued on April 28 by the Customs Tariff Commission of China’s State Council. The 146 products include reinforcing bars, wire rods and profiles along with HRC, HR sheet and plate, stainless steel products and some kinds of pipes. The first four digits of the HS codes of the affected steel items are 7205, 7209, 7210, 7212, 7214,... Read More
Australia maintains antidumping duty on rebar imports from China
Australia’s Antidumping Commission has announced that it has decided to maintain the antidumping (AD) duty on rebar imported from China for another five years until April 13, 2026. The sunset review was initiated on July 10, 2020, for the period from July 1, 2019 to June 30, 2020. The existing antidumping duty on rebar up to 50 mm diameter from China was imposed in 2016 at 19 percent. The products in question currently fall under Customs Tariff... Read More
Short Range Outlook : April 2021
Producers dominate in global longs market, outlook appears very positive Lead times are longer than ever in the global long steel products market and there is still strong demand, encouraging mills to continue increasing their prices. The situation has certainly become better from the producers’ point of view. They are all making money and their lead times are elongated. Shortages of material keeps prices and margins high It was somewhat surprising... Read More