Short Range Outlook : July 2021

Global longs market still positive overall despite logistical costs and delays Overall, the global long steel products market still looks positive, supported by strong demand, even though business has become more difficult due to higher logistical costs and time delays in getting goods from one place to another. Exporters are all under pressure due to the increase in freight costs. Container shipments are also very problematic. The only steel moving... 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

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

Short Range Outlook : January 2021

Short supply in global longs market, full impact of vaccines remains to be seen Supply is still on the short side in the global long steel products market and this situation will probably not change until the second quarter. Chinese demand for raw materials and semi-finished products has been providing the main boost to the markets. As vaccines have started to be released, depleted supply chains have to be replenished, with plans being made for stronger... Read More

Russia amends scrap export restrictions

At the end of December, the Russian authorities approved the amendment to the existing export restrictions in the steel scrap segment. The export tax for ferrous scrap has remained at the five percent level, but the minimal equivalent has been increased from €5/mt to €45/mt. The renewed restriction will be valid for 180 days from the moment the official document comes into force. Some sources stated that the duty will be valid for export shipments... Read More

Canada starts antidumping probe on rebar imports from Oman and Russia

The Canada Border Services Agency (CBSA) has announced that it has initiated an antidumping duty investigation on certain concrete reinforcing bar up to 56.4 mm from Oman and Russia. The products subject to antidumping duty investigation currently fall under Customs Tariff Statistics Position Numbers 7213.10.00.00, 7214.20.00.00, 7215.90.00.90 and 7227.90.00.90.  Read More

Short Range Outlook : November 2020

Global longs market becomes even more regionalized amid widespread protectionism The global long steel products market is becoming even more regionalized. All the safeguard measures, tariffs and antidumping and countervailing cases are reducing the global exchange of products more and more. The Covid-19 pandemic gives producers in certain markets the pretext to lobby their governments with even more arguments to get their domestic markets protected... Read More

Short Range Outlook : June 2020

Global longs export markets shrink further amid protectionism, Russians dominate As expected, things are getting more difficult for exporters in the global steel market. The EU opened fire with an antidumping investigation on HRC imports from Turkey, with Turkey firing back with duties on steel products from the EU. Canada started a similar investigation against imports of heavy plates from several countries, while Egypt has been working on a 10 percent... Read More

Short Range Outlook : May 2020

Impact of Covid-19 starts to hit home across the global long steel market The supply and demand situation in the global long steel products market has deteriorated as global economies are doing much worse today thanks to protectionist measures and the Covid-19 pandemic. There is oversupply of almost everything, except those items that suddenly end up being in short supply due to impacts on the supply chain. This does not include ‘shortages’ that... Read More

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