US to raise tariffs on Chinese steel products to 25 percent
In a statement from the White House, US President Joe Biden has announced that existing 0-7.5 percent import duties on Chinese steel products under the Section 301 tariffs will be increased to 25 percent this year. The decision, which was made following a review by the US Trade Representative, is designed to encourage China, the largest contributor to the global steel overcapacity issue, to eliminate its unfair trade practices, the statement indicated. According... Read More
US extends steel TRQs for EU for another two years
The US has determined that specified volumes of steel product imports from the European Union will no longer threaten to impair national security, according to a statement by US President Joe Biden. Therefore, the tariff-rate quotas (TRQs) for steel and aluminum imports allocated to the EU have been extended for another two years until December 31, 2025. The tariff-rate quota volume specified in the 2021 agreement between the United States and the... Read More
Short Range Outlook : March 2021
Spring brings generally bright prospects for global long steel market The current situation and sentiments are generally very good in the global long steel products market. Order books are mostly filled to above average levels. The holiday season is over, winter in the northern hemisphere is coming to an end and vaccinations are progressing. These factors as well as stimulus activities, a will to return to normal, and strong investments are all strong... Read More
Short Range Outlook : February 2021
Sentiment improves in global longs market, concerns remain for February and March Despite some very good margins for December, the global long steel products market is facing more concerns for February and March. China did increase its presence in the export markets and did enter at prices comparable to other sources, but ended up lowering its prices quite quickly. In the current global market circumstances, sentiment is better and so a return to... Read More
Short Range Outlook : December 2020
Global longs market gradually scrabbling back towards normalization The global long steel products market is gradually scrabbling back towards normalization. As effective vaccines are being rolled out, the markets are realizing that we are returning to normal. Business is flourishing. Supply chains are currently restocking and orders are solid, while production levels are not keeping up. Much better situation prevails now in terms of market prices The... 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