For a maximum of five years, Brazil placed countervailing duties and AD measures on Chinese HRC in 2018. However, these were never used for the public interest considerations, which Brazil has made obligatory in anti-dumping or subsidy investigations as of April 2019. The trade chamber believes that the study of earlier public interest assessments has not revealed any material changes in the recent years of the suspension of such measures. Contrarily, Camex says, “alternative sources relevant to the Brazilian market, imports from China that became more significant relative to the total at the end of the analyzed period, and there...

Market leader Ezz Steel has increased its ex-works domestic rebar price by 9.7% to EGP 32,135 ($922), with 14% VAT included. The prior price was EGP 29,285/t. In comparison to last week, mills’ new domestic market ex-works net rebar rates, which include 14% VAT, are EGP 32,050/t ($917) for Suez and Egyptian Steel (El Masryeen). Conversions to dollars do not include Egypt’s 14% VAT. Cash only, or within seven days of arrival. While banks trade at roughly EGP 30.85 per dollar, the black market exchange rate has hit EGP 35.8. The lack of foreign money has made Egypt’s economy difficult,...

According to Turkish market news, last week China’s May delivery hot coils were quoted at USD 730-735/ton (CFR) for Turkey’s mainstream exports, an increase of USD 20-25/ton from the previous week, and the actual transaction price of an order was USD 730/ton (CFR). Last week, Vietnam’s hot coil export quotation to Turkey was 730-740 US dollars / ton (CFR); last week, the Russian MMK steel mill’s hot coil export quotation to Turkey was 750 US dollar / ton (CFR). Last week, the mainstream export price of Turkish HRC was 840-850 US dollars/ton (FOB), which was 830-850 US dollars/ton (FOB) in...

According to reliable sources, ArcelorMittal increased its price hints this week by an additional €20/tonne ($21), raising HRC offers to €870/t ex-works for all of Europe and hot-dip galvanized tubing to €990/t ex-works base. This week, offers from import sources, like India, have increased once more, allowing European suppliers more room to increase their quotes. Additionally, sources point out that the availability of coils in Europe is still impacted by some production restrictions. At the end of February, Tata Steel declared force majeure at its Ijmuiden plant. It is believed that other European suppliers of cold rolled coil and HDG...

The company will reportedly run both blast furnaces, but one BF will be shut down for repairs in the summer. Due to a decline in the demand for steel products globally, the company shut down blast furnace No. 1 at its Smederevo works in July. It promised to restart the plant once conditions improved. With its two furnaces, the Smederevo factory has a capacity of about 2.2 million tonnes of steel per year, while No. 1 operates at a capacity of only about 900,000 t/y. The product line includes preserved coil, electrolytic tinplate, and hot and cold rolled coil. Between...

A re-roller purchased 10,000t of HRC in the SAE 1006 and SAE 1008 (re-rolling) grades from a Japanese firm last week for $730/t cfr Jebel Ali against a 90-day LC. This comes to $705–710 per ton cfr LC paid at sight. The Japanese multinational ceased selling HRC in the GCC market this week and is getting ready to float its new offers for end-May shipments. This will occur in late March or the beginning of April.  A Chinese tier-two factory made a price offer to a tube manufacturer for 3mm+ S235JR grade at $720/t cfr Jebel Ali for shipments in...

A mill in Detroit took the initiative and joined the market with a bid that was more than $100/gross ton higher than in February for busheling. Other mills in the area that bid for the same grade at lower levels—about $60–70/gt higher than in February—failed to obtain material as a result. Busheling costs last increased by $100/gt a year ago. HMS prices jumped by more than $30/gt, while Midwest shredded prices increased by $60/gt from February. In the South, price hikes for busheling and shredded products were $50/gt and $60/gt, respectively. Scrap prices have seen support from exports, improved order...

“Although input prices have slightly increased from their lowest levels, which were reached about four to five months ago, the situation has not reached a level where one could contemplate an increase in export duties, which was taken about three quarters ago,” Sinha said on the Economic Times’ ET Now program. The secretary noted that the ministry is keeping an eye on the cost of both steel and raw materials. Sinha also stated that the government is not selling any of its holdings in NMDC. “Of course, we intend to strategically sell Nagarnar Steel, which has since been separated from...

The research firm claims that the market may receive short-term support from the most recent measures revealed by the Chinese government to encourage property lending. Steel production should increase in the future months as a result of higher margins and low inventories. In the near term, this should support prices, according to the research firm. However, it claims that this year’s steel demand will continue to be hampered by the absence of a sustained improvement in new housing starts. It also states that resolving supply-side problems will make the situation worse. Overall, it anticipates an improvement in the iron ore...

The removal of duties, according to Mexican businesses Forza SPL, Pytco, and Tubera Laguna, would have a negative effect on domestic production, according to a report published in the nation’s Official Gazette of the Federation (DOF) on March 7. For imports of materials from Tianjin United SteelPipe and Tianjin Huilitong Steel Tube, the countervailing duty was originally set at $0.506/kg and $0.537/kg, respectively. While entries from Huludao City Steel Pipe Industrial were subject to $0.356/kg duty, Tangshan Zhengyuan Pipeline, Tianjin Youfa Dezhong Steel Pipe, Tianjin Youfa Steel Pipe Group, and other Chinese firms were subject to $0.618/kg duty. The product...