19 February 2019

Latest Steel Market News

US imposes tariffs on imports of trailer wheels from China

(North America): The US Department of Commerce (DOC) has imposed preliminary import duties from 58.3% to 293.27% on the Chinese steel trailer wheels. The investigation for the duties initiated on the request of Dexstar Wheel Co. in August 2018.

Baosteel starts a new cold reduction mill

(Asia Pacific): Baosteel has started a new double cold reduction mill (DCR) at its Shanghai works in China. The new mill supplied by Primetals Technologies is capable of producing annually 250k tonnes of cold rolled strips used in the manufacturing of beverage cans, metal caps and electrical components.

Brazil seeks compensation from the EU

(Central and South America): The Brazilian government seeks around €180 million in compensation from the European Union owing to its recent imports tariffs on steel. The government also mentioned that it might retaliate against the EU duties to rebalance the trade if it does not provide compensation.

Canada abolishes steel tariffs on Mexico

(North America): Canada has removed its 25% import duty on Mexican tubular products, rods and rebar. The decision is effective from 2 February 2019.

Jindal Stainless starts stainless steel facility for railways

(Asia Pacific): Indian stainless steel producer Jindal Stainless has started a dedicated stainless steel unit, through its subsidiary JSL Lifestyle Ltd, in Chennai. It will provide high-quality stainless steel to the Integral Coach Factory (ICF) for production of railway coaches. The facility has started with 4,800 tonnes/year of stainless steel production which will reach 7,200 tonnes/year over the next few years by producing ~10,000 stainless steel coaches annually.