Tenaris gets tariff exemption on round steel billet imports
8 March 2019
Tenaris received section 232 tariff exemption on round steel billet imports
(North America): The Department of Commerce (DoC) granted an exemption to Tenaris, a steel tube manufacturer, from 25% tariffs on round steel billets imports from its sister companies in Romania, Mexico and Italy. The DoC found that round billets required by Tenaris to produce OCTG at its mill in Bay City, Texas, is not made sufficient quality or quantity in the US.
Bahrain’s Unirol starts new 100k tonnes rebar plant
(Middle East): Bahrain’s Unirol, a major producer of rebar in the kingdom opened a new plant with an investment of $30 million. The new plant increased the existing rebar annual production capacity of the company from 175k tonnes to 275k tonnes.
Iron ore imports in China reached 83.08 million tonnes in February, the lowest in 10 months
(Asia Pacific): China imports of iron ore decreased in February due to the Chinese New Year holidays. The imports reached 83.08 million tonnes the lowest since April 2018, registered a decrease of 8.2% on a month on month and 1.5% on year-on-year.
Tesla gets $520 million for its production plant in China
(Asia Pacific): The US electric car maker Tesla received $520 loans from Chinese investment banks for its first production plant in China. The new factory will start production by the end of 2019. Tesla will produce its Model 3 sedans in China with an initial annual production capacity of 150k units, which would be ramped up to 500k units.
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