This is in accordance with a document from the Ministry of Economy that was released in the DOF on January 19. On July 28, 2016, the compensatory quota was first put into effect. The reduction of levies would have a severe impact on domestic production, according to Deacero, Ternium, and ArcelorMittal, who filed a complaint with Mexico’s Secretary of Economy (SE). For Chinese wire rod imports, SE maintains a compensation quota at $0.49 per kilogram. HS codes 7213.10.01, 7213.20.01, 7213.91.03, 7213.99.99, 7227.10.01, 7227.20.01, and 7227.90.99 apply to the products under investigation.

The week ended January 20 saw an upward trend in seaborne coking coal prices as mood improved following China’s relaxation of its ban on Australian coal. The rebound trend is in line with rising iron ore prices in China, which remained above $120/t CFR China for 62% Fe last week. Last week, premium hard coking coal was priced at $329.53 per tonne FOB Australia, up $20.46 from $309.07 per t the week before. Premium Coking Coal Futures for February on the Singapore Exchange closed at $332.33/t on Friday, up from $308.5/t just a week earlier.

According to reports, the supplier is currently supplying HRC to clients in Western Europe for €780 per tonne ($848), while clients in Eastern Europe are offered HRC for €800 per t ($900) delivered. These prices apply to fresh orders that will be fulfilled in March. The action was hotly anticipated in the market in recent weeks and is likely to provide spot transaction prices another lift as they continue to improve. Transactions reached their lowest point at €650/t in mid-November 2022, according to the northern European HRC index, and have since increased by €80/t. The improvement seen over the past...

Tight lending restrictions in Vietnam continue to harm the steel industry. Sangyo Shinko received 6,000 tonnes of H2 grade scrap in the most recent tender, which began on January 12, at a price of JPY 51,030 per tonne ($388/t), while JFE Shoji received 5,000 tonnes for a price of JPY 50,815 per t. The average bid was JPY 50,932/t fas (around JPY 52,000/t fob), which is JPY3,364/t more than the previous tender from December. After the tender, market sources in Vietnam are awaiting further bids for Japanese H2 scrap. Wednesday saw the most recent bids at $425/t cfr Vietnam. According...

During the implementation of the main infrastructure modernization and expansion plan in 2022, the total transportation volume of BAMA and Trans-Siberia to the east will reach 158 million tons. This is a huge challenge. In 2024, the transportation capacity of Eastern Polygon is planned to increase to 180 million tons. According to the Russian Government Information Service, there are about 3 million tons per year. “Some of the facilities in the second phase of the development of the Eastern Polygon were put into operation ahead of schedule, and the infrastructure in the first phase of the development of the Eastern...

Buyers of HRC in the GCC are apprehensive and concerned about a price decline. Due to a sharp and unexpected price decline in the third quarter of 2022, their hands were burned, says a trader. “This time, buyers are more cautious when it comes to closing purchases.” Major Indian mills have reportedly stopped making offers as they assess how sustainable the price increase is and wait for the European HRC market to stabilize. Some are aiming for fob prices this week that are $5–25/t higher than their cfr GCC bids from the previous week. A tubemaker reached an agreement with...

500,000 tonnes worth of cargo will be moved this year. He continues by saying that HBIS Serbia does not completely rule out a rise in transportation volumes. In Moskalenko’s words, “securing such a contract provides the UDP fleet with stable operation throughout 2023.” “Since the tender was held among the top Danube shipping companies, the battle was not simple. UDP put a lot of effort into winning and persuaded the partners to agree to favorable conditions. This win demonstrated the complete economic justification for fleet development and modernization. The general director adds, “So this year we are devoting all our...

 On January 5, prices for European Hot rolled steel coil remained constant as market participants continued to watch and wait in the absence of many domestic or imported offers. North European Hot rolled steel coil was rated unchanged by Platts for the day at EUR 700/mt ex-works Ruhr. The minimum price level for January trading was usually thought to be Eur700/mt ex-works, while mills are apparently mulling higher prices given the robust restocking activity in December. The buy-side is still worried that increases are not fundamentally underpinned, though. Although it’s acceptable to be bullish, a distributor noted that this price...

From April 1, 2023, the import duty rate on coking coal will be 3%. The Chinese government has decided to review import duties on coking and thermal coal to support domestic producers. SteelOrbis reports about it. Sxcoal writes that, China will maintain a zero import duty on coke in 2023. Its imports to China may increase next year as production in Indonesia and other Southeast countries is expected to increase. As GMK Center reported earlier, steel companies of China in January-November 2022 increased imports of coking coal by 21.5% compared to the same period in 2021 – up to 57.37 million tons. In November, the country...

The main reasons for the decline in steel production are low demand and high energy costs. “2022 started with high hopes after the 13% increase in steel production in Turkiye in 2021. We had no reason not to expect more than 10% output growth this year. Consumption at the beginning of the year was brisk, the country’s production capacity was adequate, and market conditions were positive until February, when Russia invaded Ukraine. Now the market has changed and it is difficult to guess when the war will end,” he said. In November 2022, Turkiye became the country with one of...