MALAYSIA IMPOSES ANTI-DUMPING TAX ON VIETNAM STEEL PRODUCTS
The Malaysian government has decided to impose anti-dumping duty on steel products imported from Vietnam including alloy and non-alloy cold rolled steel. Anti-dumping duties will be applied on steel products originated from Vietnam According to Vietnam News Agency (VNA), on January 23, Malaysia’s Ministry of Industry and International Trade (MITI) announced that the Malaysian Government […]
WORLD STEEL PRODUCTION FELL THE FIRST TIME IN HALF-DECADE
According to information from the World Steel Association (WSA), for the first time since 2015, world steel production in 2020 decreased compared to the previous year. 1. Steel production & crude output decreased in US, North American & EU countries In the past year, the world produced 1864 million tons of steel, 0.9% lower than […]
IRON ORE DILEMMA: WILL CHINA CUT STEEL PRODUCTION?
China’s vast steel industry, and its iron ore industry, is grappling with the seemingly contradictory policy impulse that the country will produce less this year, even as demand remains strong in the context of post-pandemic stimulus spending. 1. China steel production reaches records in 2020 China produced a record 1.05 billion tons of steel in […]
EU STEEL CONSUMPTION SET TO RECOVER IN 2021
According to the European steel association Eurofer, the demand for steel in the European Union is expected to rebound by 13.3% year on year after a slump at 13% in 2020. 1. The downtrend of steel consumption in 2020 Through most of 2020, steel demand in the region had been on a negative trend. It […]
INDIA INITIATED AN INVESTIGATION OF STAINLESS STEEL WELDED PIPE
The General Department of Trade Defense of India (DGTR) has issued a notice to initiate an investigation to review the scope of products in the anti-subsidy case against a number of stainless welded stainless steel pipe products originating from Vietnam and China. This is a midterm review requested by the Plaintiff Kunshan Kinglai Hygienic Material […]
CHINA: STEEL DEMAND SURGES, STEEL PRICES INCREASE
With production increasing after the Lunar New Year holiday, Chinese mills are facing soaring steel prices, with some key commodities such as rebar up 6.62% from the last trading day of lunar 2020. 1. Higher iron ore prices, higher steel prices Experts say that China’s continuous resumption of jobs could cause steel prices to rise […]
WILL VIETNAM COLD ROLLED STEEL BE TAXED WHEN FACING DUMPING CHARGES IN PAKISTAN?
According to the Vietnam Trade Office in Pakistan, the National Tariffs Committee of Pakistan initiated the anti-dumping investigation on some cold-rolled steel products originating from/exporting from Vietnam and China, The European Union (EU) and the Republic of Korea. 1. Vietnam cold-rolled steels face dumping charges in Pakistan Specifically, the goods under investigation are cold-rolled steel […]
CHINA: STEEL PRICES & RAW MATERIALS PRICES ARE FALLING RAPIDLY
China steel prices and steel material prices recently reversed to decline, after China loosened the policy of importing scrap steel. In the coming time, the world steel and steel material market will be affected by a number of conflicting factors. Accordingly, production costs are forecasted to increase, but China’s steel material demand may not increase […]
EUROPEAN COIL MARKET IS CONSTRAINED BY SHORTAGES
European HR coil prices are hitting record highs, both in the north and south of the continent. The average transaction value in the MEPS region for March was 753 Euro/ton. This compares with the highest figure of 791 Euro/tonne recorded in August 2008. Difficulties in purchasing raw materials After the recession in February, prices have […]
CHINA CUTS STEEL OUTPUT AS AIMS TO REDUCE CARBON EMISSIONS
As China aims to meet goals to curb emissions, the country will cut crude steel output in 2021 and launched a nationwide investigation into the implementation of steel capacity cuts since 2016. Known as the world’s top steel producer, China started a campaign to eliminate outdated and excess capacity in the ferrous sector in 2016. […]
