Short Range Outlook : July 2024
Lack of Chinese government action could cause great damage to global longs industry The supply and demand balance in the global long steel products market is becoming more unstable, with China now actively moving steel billets at the lowest prices. Finished products from China continue to dominate most markets, both in the long and flat segments. Even though there is a lot of material being offered in the market, it seems that the current raw material... Read More
Turkey extends temporary safeguard measure on wire rod imports for three years
Turkey, having announced a temporary safeguard protection measure on alloyed and non-alloyed wire rod imports at the beginning of this year, has decided to extend the measure for another three years. As a result of minor changes made in the decision, wire rod importers will be subject to a tax liability of $175/mt during June 15, 2024-January 6, 2025; $170/mt during January 7, 2025-January 6, 2026 and $165/mt between January 7, 2026 and January 6,... Read More
Canada issues preliminary antidumping margins on wire rod imports from three countries
The Canada Border Services Agency (CBSA) has announced the preliminary determination of its antidumping (AD) duty investigation against certain wire rod from China, Egypt and Vietnam. The estimated dumping margins are as follows: China : 50.9 percent and 71.1 percent Egypt : 49.7 percent and 99.8 percent Vietnam : 6.1 percent, 18.3 percent, 38.9 percent The products subject to the preliminary duty currently fall under the below listed Customs Tariff... Read More
US issues preliminary antidumping review results on wire rod from S. Korea’s POSCO
The US Department of Commerce (DOC) has announced the preliminary results of its administrative review of the antidumping duty order on carbon and certain alloy steel wire rod from South Korea-based POSCO. During the review period from May 1, 2022, to April 30, 2023, South Korean producer POSCO was found to have made sales of the subject products at less than normal value. The DOC has determined a weighted-average dumping margin of 1.03 percent for... Read More
Short Range Outlook : June 2024
Gloom persists in global longs market, no sign yet of corner being turned Demand in the global long steel products market continues to lag behind supply and the bottom of the market may not have been seen yet. The steel volumes being produced and being consumed are not growing. On the contrary, they are down in most regions. A lot depends on China Everyone one is expecting some move from Beijing, to slow down exports from China. The iron ore price... Read More
EU extends steel safeguard measures for another two years, technical adjustments made for wire rods
The European Commission has announced that it has decided to extend the safeguard measures on imports of 26 steel products for another two years until June 30, 2026, finding that the safeguard measure continues to be necessary to prevent serious injury. Without the extension, the current quota measures would expire on June 30, 2024. There are also some technical adjustments to the functioning of the measure in two product categories – hot rolled... Read More
The 91st IREPAS meeting will be held in Paris, France
The 91st IREPAS meeting will be held on September 15-17, 2024 in Paris, France in conjunction with the SteelOrbis Fall’24 Conference. Details will be announced later. Read More
IREPAS in Berlin : Weak demand, great uncertainty and aggressive Asian exports
The 90th meeting of IREPAS (the International Rebar Exporters and Producers Association) was held in Berlin on April 28-30 in conjunction with the SteelOrbis Spring’24 Conference. There were 104 representatives from 41 different producers among the 445 registered delegates from a total of 57 different countries. There were also 91 registrations representing 52 different raw material suppliers. At the opening of the conference, Murat Cebecioglu,... Read More
Turkey restricts exports to Israel
Turkey’s Ministry of Commerce has announced that it has restricted the exports of 54 product groups to Israel. No details regarding these restrictions, which came into force as of today, April 9, have been disclosed yet. The restricted products include reinforcing bars, wire rods and flat steel products, as well as steel pipes and fittings, profiles, iron and steel construction materials, iron-steel wire, cement, aviation and jet fuel and metal... Read More
Short Range Outlook : April 2024
Global longs market under pressure from weak demand and China’s aggressive exports Demand in the global long steel products market continues to lag behind supply and the situation is getting worse because of China’s aggressive export policy. At the beginning of 2024, China accelerated its exports. Based on the data for the first two months of 2024, they are poised to exceed their record exports seen in 2015. Chinese steel producers seem to be... Read More