China's province Hebei to cut 31.86 mln tonnes of steel and iron capacity in 2017

China's biggest steelmaking province Hebei plans to slash 31.86 million tonnes of steel and ironmaking capacity for this year, the official Xinhua news agency quoted a provincial official as saying on Sunday.

Hebei, a province in the north of the country near the capital Beijing, accounts for nearly a quarter of China's total steel output and has pledged to cut steel capacity by 31.17 million tonnes by 2017 and by 49.13 million tonnes by 2020.

Xinhua reported Hebei provincial governor Zhang Qingwei as saying in a government work paper that Hebei is aiming to eliminate 15.62 million tonnes of steel capacity, 16.24 million tonnes of ironmaking capacity by the end of this year.

Hebei had cut 14.62 million tonnes of steel capacity by the end of October, achieving 2016's target of 14.22 million tonnes ahead of schedule.

Zhang also said four "zombie firms" in Heibei would be shut down this year. He did not specify which firms.

"(The) process of reducing all ironmaking and steel production capacity in cities of Langfang, Baoding and Zhangjiakou will be accelerated this year," Zhang was quoted as saying.

In addition, there are plans to cut 7.42 million tonnes of coal capacity, 1.1 million tonnes of cement capacity and an additional 5 million weight cases of flat glass in 2017.

Tangshan, China's biggest steel producing city, which is in Hebei province, aims to close 8.6 million tonnes of steel capacity in 2017, the local government said on Thursday, part of its efforts to "upgrade" its highly-polluting heavy industrial economy. 

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Source : Reuters

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Indian Government imposes 5-year antidumping duties on coke imports from China, Australia

India has imposed antidumping duties on coke imports from China and Australia, which will be effective over the next five years, according to a statement released late Friday by the country's Ministry of Finance.

Duties of $25.20/mt and $16.29/mt will be levied on imports from China and Australia, respectively, starting November 25.

The antidumping application had been filed in December by the Indian Metallurgical Coke Manufacturers Association, whose members include coke makers Saurashtra Fuels Pvt. Ltd., Gujarat NRE Coke Ltd., Carbon Edge Industries Ltd., Bhatia Coke and Energy Ltd. and Basudha Udyog Pvt. Ltd, which together account for more than half of India's merchant coke output.

But market participants stated that the duty of $25.20/mt imposed on Chinese coke imports was only a small fraction of the current price and might not boost the competitiveness of Indian alternatives.

S&P Global Platts assessed metallurgical coke 64/62% CSR at $343/mt FOB North China, and $354/mt CFR India last Friday.

Indian steelmakers were already mulling output cuts as most were exposed to soaring Australian coking coal prices in the last two quarters, sources said.

Next on the agenda for coke and steel producers will be petitioning for the scrapping of the 2.5% import duty on coking coal, an Indian coke maker said.

"It will face no opposition from anyone in the industry and should be passed quickly," the source said.

Source : Platts

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EU member states must act forcibly against dumping – says EUROFER

The European Steel Association (EUROFER) has called upon member states to achieve a breakthrough on the modernisation of the European Union’s Trade Defence Instruments (TDIs). 

EUROFER’s call for action comes ahead of meeting of trade ministers of the EU’s Foreign Affairs Council. At the meeting big issues, such as TDI modernisation, Market Economy Status for China, the Transatlantic Trade and Investment Partnership (TTIP) and the EU-Canada Comprehensive Economic Trade Agreement (CETA) are up for discussion.

Axel Eggert, director-general of EUROFER, said that EU trade policy is facing a range of challenges, not least of which are unfair trade and public reservations over TTIP and CETA. “However, we must not be naïve free traders: member states must act forcefully to shore up our defences against dumping from third countries and demonstrate the strength of their convictions that closer trade relations with market economy-driven countries – such as the USA and Canada – will contribute significantly to the prosperity of the European Union and its citizens,” he said.

Eggert said that ther was now a real opportunity to make progress on lifting the Lesser Duty Rule (LDR) and speed up the process of anti-dumping and anti-subsidy cases.

“Improved EU trade defence measures will send the right signal: that our partners must abide by the rules of free and fair international trade,” Eggert said,

They will also explore how to handle China’s demand to be granted MES. No decisions are expected but early indications suggest that the Slovak Presidency is working to build a framework to help advance these dossiers.

As for market economy status for China, Eggert said that China must fulfill the requirements to be considered a market economy before it can reasonably make such a cliam. “To date, China only fulfills one out of the five well-established EU criteria,” he said, adding that it does not have an economy in which the market determines prices – one of the most basic elements in determining eligibility for MES status.

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EU Imposes Fresh Anti-Dumping Tariffs on Chinese Steel

BRUSSELS—The European Union on Friday imposed anti-dumping tariffs on certain Chinese steel imports, as the bloc steps up efforts to protect European steelmakers struggling with overcapacity.

The duties range from 18.4% to 22.5% and apply to so-called rebars, steel products used to reinforce concrete.

European manufacturers in recent years have lodged multiple complaints that their Chinese competitors are exporting steel products to Europe at unfairly low prices. The EU carried out an investigation and at the end of January it imposed lower, provisional anti-dumping duties, which are now being replaced by the definitive duties.

Under World Trade Organization rules, the EU can impose anti-dumping duties on products from countries outside the bloc if an investigation demonstrates that these products enter the EU at prices below fair market value and cause injury to the EU industry.

The decision comes amid a continuing investigation into unfair trade practices by Chinese steel manufacturers, after a complaint lodged in March by European steel association Eurofer, which represents more than 25% of total EU rebar production. Eurofer on Friday said it welcomed the decision.

Currently the EU has 37 anti-dumping and antisubsidy measures in place in the steel sector, of which 15 concern China.

European industries say that the Chinese industrial policies allow local producers to pump out far more goods than its domestic market can consume. The result has been a flood of cheap products shipped to Europe, the U.S. and other developed markets.

China, the world’s largest steel producer, has doubled its exports to the EU over the past two years, while the bloc’s demand languishes below levels seen before the 2008 financial crisis. EU steel prices have fallen roughly 40% over the past two years.

News by : WSJ

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U.S. Stainless Steel Sheet and Strip Industry Encouraged by Commerce Department's Affirmative Preliminary Determination in China Subsidy Investigation

WASHINGTON, July 12, 2016 -- Today, the U.S. Department of Commerce announced its preliminary determination that imports of stainless steel sheet and strip ("SSSS") from China are benefitting from unfair government subsidies.  As a result, it will instruct U.S. Customs and Border Protection ("CBP") to begin to require U.S. importers of SSSS from China to deposit estimated countervailing duties at the time of importation.  Further, based on its previously announced preliminary affirmative critical circumstances determination, the Commerce Department will instruct CBP to suspend liquidation of all entries of SSSS from China that were imported into the United States on or after the date that is 90 days prior the date of publication in the Federal Register of the affirmative preliminary countervailing duty determination, and to require U.S. importers to post security equal to the preliminary subsidy rates on those entries.

The Commerce Department's determination follows the filing, on February 12, 2016, of antidumping and countervailing duty petitions by domestic producers AK Steel Corporation (NYSE: AKS), Allegheny Ludlum, LLC d/b/a ATI Flat Rolled Products, an Allegheny Technologies company (NYSE: ATI), North American Stainless, and Outokumpu Stainless USA, LLC.

Based on information gathered to date, the Commerce Department calculated a preliminary subsidy margin of 57.30 percent of the value of the imported SSSS for Shanxi Taigang Stainless Steel Co., Ltd., the sole Chinese respondent that was analyzed by the agency.  The Commerce Department assigned a preliminary subsidy margin of 193.12 percent to shipments of SSSS by all other producers and exporters in China, including Ningbo Baoxin Stainless Steel Co., Ltd. and Daming International Import Export Co., Ltd., both of which failed to participate in the Commerce Department's investigation after being selected as a mandatory respondents.  The Commerce Department investigated numerous subsidy programs based on allegations contained in the domestic industry's petition.

The next step in this trade action will be the Commerce Department's issuance of its final countervailing duty determination, which is likely to be completed on or about January 30, 2017.  In addition, the Commerce Department is currently scheduled to issue its preliminary antidumping determination on Monday, September 12, 2016.  If an affirmative preliminary antidumping determination is issued by the Commerce Department, U.S. importers will be required to post cash deposits or bonds on all future entries of SSSS from China in the amount of the subsidy and dumping margin calculated by the agency. 

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Source : PRNewswire