Steel tariffs piling pressure on automotive and autoparts manufacturing industries

Source: Bloomberg Markets Date: 9 August 2018 Ford Calls Rising Steel, Aluminum Prices ‘Significant Headwind’ Rising steel and aluminum prices, driven up by President Donald Trump’s tariffs on those commodities, are a substantial drag on Ford Motor Co.’s business, though a top executive said the company doesn’t plan to pass higher costs on to consumers. … Continue reading Steel tariffs piling pressure on automotive and autoparts manufacturing industries

Stable global markets for long steel a good sign for long-driven Malaysian steel sector

Source: S&P Global Platts Date: 8 August 2018 The global market for long steel is "in equilibrium" with the outlook for future development dependent on the region, the International Rebar Producers & Exporters association said. The international business environment and economic growth rates were currently strong, with US domestic mills benefiting from a robust economy … Continue reading Stable global markets for long steel a good sign for long-driven Malaysian steel sector

Firmer enforcement and follow-through needed to prevent undermining of approved trade measures

Source: The Edge MY Date: 8 August 2018 Local steel manufacturers have found themselves in a tight spot again. Steel product manufacturers in the downstream segment have been exploiting loopholes in local anti-dumping regulations to bring in flat steel products, specifically cold rolled coil (CRC), at prices too low for local steel manufacturers to match. … Continue reading Firmer enforcement and follow-through needed to prevent undermining of approved trade measures

Japan’s domestic manufacturing sector is keeping the nation’s steel demand up amid trade war uncertainty

Source: S&P Global Platts Date: 8 August 2018 Japanese steelmakers plan to lift crude steel production to 27.07 million mt over July-September, up 4.3% year on year and up 1.8% from June-July, a Ministry of Economy, Trade and Industry ("METI") survey released Tuesday showed. Register Now A METI official in charge of the survey said … Continue reading Japan’s domestic manufacturing sector is keeping the nation’s steel demand up amid trade war uncertainty

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