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
Short Range Outlook : October 2021
Demand to be driver of global longs market from now on, supply no longer an issue Supply is no longer an issue in the global long steel products market, and demand will be the driving factor from now on, though it will probably be rather slow for a while because prices are normalising and delivery periods are becoming shorter. That said, this situation should be temporary. The cost of producing steel is increasing, especially on the energy side. Demand... Read More
Pakistan cuts scrap import tax for melters
The Pakistani government has issued a decree according to which the sales tax on certain import products, in particular on steel scrap, is reduced from 17 percent to 14 percent. It is noteworthy that the amendment relates only to steel melters importing scrap for further processing. Meanwhile, for traders dealing with scrap as a finished product the sales tax will remain at 17 percent as before. Read More
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
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
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
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
Ukraine extends export duty on ferrous scrap for next five years
On May 14th, Ukrainian president Mr Zelensky signed the law extending the duty on the export of ferrous scrap for the next five years, effective from May 15, 2021, to September 15, 2026. “This document extends the period of validity of the export duty rate of €58/mt for waste and scrap of ferrous metals for five years – until September 15, 2026. Such conditions have been created to prevent a shortage of ferrous scrap in Ukraine, which... Read More