Short Range Outlook : January 2015
Lull in markets due to holiday period The global long steel products market has been quiet recently mostly because of the holidays in many countries, with business volumes shrinking to low levels. The market situation has deteriorated with strong and agressive offers in terms of volumes and prices, with demand stagnating. Many consumers of deformed reinforcing bars are squeezed by low prices and strong pressure from the construction side. What will... Read More
US DOC publishes final AD & CVD margins for Chinese wire rod imports
The US Department of Commerce (DOC) published the antidumping (AD) and countervailing duty (CVD) orders on carbon and certain alloy steel wire rod from China. The final dumping margins in the AD investigation are: I. Three “separate rate” companies: 106.19%. Hunan Valin Xiangtan Iron & Steel Co., Ltd.; Jiangsu Shagang International Trade Co., Ltd.; Rizhao Steel Wire Co., Ltd. II. China-wide rate (i.e., all other Chinese producers and exporters)... Read More
Malaysia extended deadline for preliminary AD decision on rebar imports
Malaysian authorities have announced on the country’s official gazette on Monday, December 29th that; the time period for the antidumping duty investigation on reinforcing steel bar imports from China and South Korea was extended by an additional thirty days from January 1, 2015 until January 30, 2015. The investigation was initiated on September 2, 2014, following a petition filed by domestic steel producer Ann Joo Steel Berhad. Read More
US DOC to issue AD/CVD orders on Chinese wire rod imports
The United States International Trade Commission (USITC) determined Monday that a US industry is materially injured by reason of imports of carbon and certain alloy steel wire rod from China that the US Department of Commerce (DOC) has determined are subsidized and sold in the United States at less than fair value. All six Commissioners voted in the affirmative. As a result of the USITC’s affirmative determinations, the DOC will issue antidumping... Read More
Short Range Outlook : December 2014
Oversupply still evident Oversupply has been evident in the global long steel market from September up to the end of November, slowing down demand, putting pressure on the market and pushing prices downwards. However, outputs are being reduced in certain areas and demand in the global long steel products market is now at reasonable levels although purchasing processes in general have been delayed or even fragmented due to the general price downtrend.... Read More
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