US DOC announced final determination on wire rod imports from China
The US Department of Commerce (US DOC) announced Thursday its affirmative final determinations in the antidumping duty and countervailing duty investigations of imports of carbon and certain alloy steel wire rod from the People’s Republic of China (China). The US DOC determined that imports of carbon and certain alloy steel wire rod from China have been sold in the United States at dumping margins ranging from 106.19 percent to 110.25 percent. Additionally,... Read More
Short Range Outlook : November 2014
High levels of competition The global long steel products market is still showing a high degree of competition. Demand is strong in North America, the Persian Gulf region and the Southeast Asian market. However, other markets like the EU and South America are still showing some weakness. China is still influencing the perception of oversupply in the global long steel products market coupled with low prices. Indeed, availability is high, and mills... Read More
IREPAS in Berlin: Specter of rising Chinese exports haunts the markets
The 71st meeting of IREPAS (International Rebar Exporters and Producers Association) was held in Berlin, Germany on September 28-30. There were 82 producer representatives among the 288 registered delegates from 40 different countries. There were 48 registrations representing 33 different raw material suppliers. Raw material suppliers: Increasing Chinese exports will alter market balances Ioannis Meimaroglou, chairman of the IREPAS raw material suppliers... Read More
Chairman Marti: Fear of oversupply from China justified
Speaking at the opening of the SteelOrbis 2014 Fall Conference & 71st IREPAS meeting in Berlin on September 29, IREPAS chairman Kim Marti stated that the global economy is showing positive signals with 3.3 percent growth expected this year and 4 percent in 2015, adding that the US economy is also accelerating, helping the whole world to grow, especially its neighbors Canada and Central America. Mr. Marti also pointed out that consumer confidence... Read More
Short Range Outlook : September 2014
Challenging times in global longs market despite some demand improvements There has been a reasonable resumption of demand for long steel products in the North American and northern EU markets following the holiday period. Overall, the supply-demand imbalance seems to have eased, particularly for semi-finished materials, as a result of some cuts in production. Geopolitical conflict has caused business disruptions in the Black Sea region, Iraq and... Read More
US DOC announced preliminary duties on Chinese wire rod imports
The US DOC announced the preliminary duties on imports of carbon and alloy steel wire rods from China. Accordingly; Rizhao Steel Wire Co, Hunan Valin Xiangtan Iron & Steel, and Jiangsu Shagang International Trade Co (a subsidiary of Jiangsu Shagang Group) were all assigned a preliminary duty of 106.19%. All other producers were assigned a duty of 110.25% The US DOC previously set preliminary CVD margins of 81.36% for Hebei Iron&Steel, and... Read More
Malaysia initiated antidumping investigation against rebar imports
Malaysian authorities have initiated an antidumping investigation regarding reinforcing steel bar imports from China and South Korea on September 2, 2014, following a petition filed by domestic steel producer Ann Joo Steel Berhad, according to the country’s official gazette. The petition covers reinforcing steel bars equal to six meters or less for non construction usage. Read More
EU to review AD on imports of wire rod from China
The European Commission launched an expiry review on the antidumping duty on wire rod imports from China, which was originally imposed back in 2009 following the application by EUROFER (The European Steel Association). EUROFER insists that the expiry of the antidumping duty would result in recurerence of the dumping and the injury on the EU steel industry. The CN codes subject to the AD are as follows: 7213.10.00 7213.20.00 7213.91.10 7213.91.20 7213.91.41 7213.91.49 7213.91.90 7213.99.10 7213.99.90 7227.10.00 7227.20.00 7227.90.10 7227.90.50 7227.90.95 Read More
Short Range Outlook : July 2014
Decent performance in global long steel market but rising concerns due to several issues Global demand has remained at reasonable levels during the course of the last 30 days. The market has been performing well in the Americas and showing better numbers in Europe. Elsewhere, market dynamics have continued to be strong in MENA countries, Africa and Asia. However, excess supply in general is putting a lot of pressure on pricing and margins. Steel... Read More
AD ruling on wire rods ex-China postponed by US DOC
The US DOC (Department of Commerce) announced on June 17th that it has posponed the date of its preliminary antidumping investigation of carbon and certain alloy steel wire rods imported from China. The decision has been taken following the request by the petitioners; ArcelorMittal USA, LLC, Charter Steel, Evraz Pueblo, Gerdau Ameristeel Inc., and Nucor Corporation. The original date had been July 10, 2014. As per the announcement, the new preliminary... Read More