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V Dalmia

EuroAsia Minmet Corp.

Mail : info@euroasiaminmet.com

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

May 2016 crude steel production

World crude steel production for the 66 countries reporting to the WSA (worldsteel) was 139 million tonnes (Mt) in May 2016, a -0.1% decrease compared to May 2015.

China’s crude steel production for May 2016 was 70.5 Mt, an increase of 1.8% compared to May 2015. Elsewhere in Asia, Japan produced 8.8 Mt of crude steel in May 2016, a decrease of -0.9% compared to May 2015. India’s crude steel production was 8.0 Mt in May 2016, up by 4.9% on May 2015. South Korea’s crude steel production was 5.8 Mt in May 2016, down by -3.5% on May 2015

In the EU, Germany produced 3.9 Mt of crude steel in May 2016, an increase of 4.0% compared to May 2015. Italy produced 2.2 Mt of crude steel, up by 9.3% on May 2015. Spain produced 1.3 Mt of crude steel, down by -10.6% compared to May 2015. France produced 1.2 Mt of crude steel, down by -18.8% compared to May 2015.

Turkey’s crude steel production for May 2016 was 3.0 Mt, up by 5.4% on May 2015.

In May 2016, Russia produced 6.0 Mt of crude steel, up by 0.4% over May 2015. Ukraine produced 2.3 Mt of crude steel, up by 5.7% compared to the same month in 2015.

The United States produced 6.8 Mt of crude steel in May 2016, a decrease of -0.4% compared to May 2015.

Brazil’s crude steel production for May 2016 was 2.6 Mt, down by -13.2% on May 2015.

The crude steel capacity utilisation ratio of the 66 countries in May 2016 was 71.3%. This is 1.0 percentage point lower than May 2015. Compared to April 2016, it is 0.1 percentage point lower.

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Importer & Exporter

Source: WSA

US has raised its import duties on Chinese steelmakers by more than fivefold

The US has raised its import duties on Chinese steelmakers by more than fivefold after accusing them of selling their products below market prices.

The taxes of 522% specifically apply to Chinese-made cold-rolled flat steel, which is used in car manufacturing, shipping containers and construction.

The US Commerce Department ruling comes amid heightened trade tensions between the two sides over several products, including chicken parts.

Steel is an especially sensitive issue.

US and European steel producers claim China is distorting the global market and undercutting them by dumping its excess supply abroad.

US steel makers say that the Chinese government unfairly subsidises its steel exports. Meanwhile China has been under pressure to save its steel sector, which is suffering from over-capacity issues because of slowing demand at home.

China's Ministry of Finance has not directly responded to the US ruling but on its website this morning it has said that China will maintain its tax rebate policy for steel exports as part of its efforts to help the bloated steel sector recover.

These tax rebates are seen as favourable policies to shore up ailing steel companies in China, and to avoid massive job losses. Expect more fiery rhetoric from the US on China's unfair trading practices soon.

Britain’s steel trade body and unions have called on the UK and the EU to take urgent action to stop Chinese steel dumping, after the US government increased tariffs to more than 500%.

China denies that its mills have been dumping their products in other countries, arguing that its steelmakers are more efficient.

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China's Shanxi suspends new ferroalloy, aluminum, steel project approvals

Shanxi province in northwest China has suspended the approval of new ferroalloy, aluminum and steel projects in 2016 as part of air pollution control plans, the provincial government said Wednesday.

The suspension is also aimed at reducing surplus supply in the sectors, the provincial government said in a report on its website.

Shanxi's steel and nonferrous metal sectors are high consumers of energy and water, resulting in pollution and water shortages, according to the government.

It is aiming to improve air quality and lower emissions by streamlining its industry structure.

The province also targets scrapping 33,000 outdated vehicles and banning high emission vehicles from January 1, 2017.

Shanxi was among China's 10 largest aluminum producing provinces in 2015, producing 660,257 mt of refined aluminum in the year, down 20% from 2014, data from the China Nonferrous Metals Industry Association showed.

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Importer & Exporter