Archive

India Ratings and Research indicates moderate risk of global trade war with domino effects

Source: The Economic Times Date: 6 August 2019 India Ratings and Research (Ind-Ra) has said there is a moderate risk of global trade war with domino effect due to US trade restrictions on steel imports but rebounding steel margins could help domestic steel companies withstand the challenges. In its latest report on the steel sector … Continue reading India Ratings and Research indicates moderate risk of global trade war with domino effects

Casualty of Section 232: India becomes steel dumping ground as imports from China, Japan, and South Korea spike

6 August 2018. India appears to have become a dumping ground for steel makers from not just China but also Japan and South Korea. Countries are diverting supplies from the U.S. and the E.U. in massive volumes to escape the impact of a global tariff war initiated by Section 232. Between April-June 2018, imports from China … Continue reading Casualty of Section 232: India becomes steel dumping ground as imports from China, Japan, and South Korea spike

China continues its massive environmental reform in Shandong province, cutting steel and coke production by 2020

5 August 2018. China's Shandong province has unveiled new targets to cut steel and coal production capacity, eliminate outdated aluminium smelters, and switch to cleaner energy as part of China's nationwide anti-pollution initiative. Shandong's Environmental Protection Bureau said that it would cut pig iron production capacity by 600,000 metric tonnes and crude steel production capacity by … Continue reading China continues its massive environmental reform in Shandong province, cutting steel and coke production by 2020

Ann Joo’s arbitration case near its end with no gain from Chinese steelmaker

1 August 2017. Ann Joo Resources Bhd ("AJ") has been ordered by the Arbitration Tribunal in China to pay a remaining sum of US$3.16 million under a contract with a Chinese steelmaker, following a two-year legal battle involving claims and counter-claims by the two companies. This is in relation to a contract where Tangshan is tasked … Continue reading Ann Joo’s arbitration case near its end with no gain from Chinese steelmaker

Urgency in dealing with Section 232 can be found by going beyond trade statistics

When news of the trade war between the U.S. and China in steel broke out in March/April earlier this year, the Malaysian iron and steel industry jumped into alert. Malaysia was, after all, caught by the Section 232 tariffs on steel and aluminium (for harming the local U.S. steel industry), and the first response was … Continue reading Urgency in dealing with Section 232 can be found by going beyond trade statistics

Malaysia initiates anti-dumping probe on Chinese and Vietnamese galvanized steel sheets

27 July 2018. On 24 July 2018, the Ministry of International Trade and Industry ("MITI") launched an anti-dumping investigation into imports of galvanized steel coils and sheets from China and Vietnam. The petition for investigation was filed by FIW Steel Sdn Bhd on behalf of the industry, and pertains to imports classified under 23 HS code … Continue reading Malaysia initiates anti-dumping probe on Chinese and Vietnamese galvanized steel sheets

Fear factor: China steel exporters delay shipments, giving space to rivals

25 July 2018. Tight checks by Chinese customs officials to halt the smuggling of scrap steel to Southeast Asia have forced some exporters to cancel or delay shipments, benefiting rivals like Russia that are prowling for market share amid a raging Sino-U.S. trade war. Among those that have cancelled or delayed cargoes are Chinese exporters that have … Continue reading Fear factor: China steel exporters delay shipments, giving space to rivals

The United States and the European Union are moving to resolve U.S. tariffs on steel and aluminium imports

25 July 2018. The U.S. and the E.U. have agreed to hold off on new tariffs, suggesting that the United States will suspend plans to start taxing European auto imports - a move that would have marked a major escalation in trade tensions between the allies. The news is encouraging, given that recent news have … Continue reading The United States and the European Union are moving to resolve U.S. tariffs on steel and aluminium imports

China’s antidumping probe on stainless steel set to disrupt Asian market

24 July 2018. China has launched an anti-dumping investigation into imports of stainless steel billet and slab, as well as stainless hot-rolled plate and coil produced in the European Union, Japan, South Korea and Indonesia, according to a notice by the country’s Ministry of Commerce on Monday July 23. The period being investigated is the whole of … Continue reading China’s antidumping probe on stainless steel set to disrupt Asian market