Chinese stainless steel net exports increased in January
27 February 2019
Chinese stainless steel net exports increased in January
(Asia-Pacific): Chinese stainless steel net exports reached around 185k tonnes, registered an increase of 43% year-on-year. Drilling down further, Chinese stainless steel imports decreased by 41.78% and stood at 134k tonnes in January while the exports dropped 11.1% resulted in 319.5k tonnes.
The Chinese government is expected to decide on the anti-dumping investigation on certain stainless steel imports from the European Union, Japan, South Korea and Indonesia in March 2019.
Global crude steel production edged up in January
(Europe): Global steel production increased by 1% year-on-year to 146.7 million tonnes in January according to the World Steel Association. The Chinese production of crude steel reached 75 million tonnes with an increase of 4.3% year-on-year.
US starts AD investigation into fabricated steel imports from China, Canada and Mexico
(North America): US started an anti-dumping probe into fabricated steel imports from China, Canada and Mexico. In a petition filed earlier by a local steel trade group, Department of Commerce is investigating whether to seek duties of about 30% for Canada and Mexico and 222% for China. Fabricated steel is a type of long steel product and used in building and construction.
Mexico reinstated safeguard duty on steel after it expired on 1st February
(North America): Mexico re-imposed 15% steel safeguard duty on steel imports from the countries with which it has no free trade agreement. The safeguard measures were initiated in October 2015 and successively renewed after every six months until 1st of February. The duties will come into force this week and will apply to the same 186 steel products.
Texas approves 10 years tax incentives for a new steel mill
(North America): Texas approved ten-year tax incentives to attract 1.8 billion investment from Steel Dynamics to build a new flat roll mill in San Patricio. The incentives account for 100% tax immunity for the first three years and followed by 70% tax cut for six years.
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