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voda 29 maart 2023 09:58

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State Bank of Pakistan Removes CMR for Steel Coils

In a path breaking move, the State Bank of Pakistan has removed all Cash Margin Requirements on steel coil imports, a move that will remove a significant barrier to the import of these products. This decision is effective from 31 March and is a condition of the International Monetary Fund before it can reach a staff-level agreement with Pakistan.

Previously, steel coils and some other products falling under specific HS code headings were included under the 100% CMR list, which had discouraged imports. This requirement has been removed, which is expected to help steel importers in Pakistan. However, some flat products were still subject to cash margins, which the source suggests could help importers of HRC if implemented.

This decision is expected to have a positive effect on the steel industry in Pakistan, as it will make steel imports easier and more accessible for importers. Cash margins were viewed as a tool to discourage imports, and their removal could increase steel imports, particularly of steel coils. It remains to be seen how the industry will respond to this change, but it is expected to help boost the sector's growth and development.

Import restrictions have driven hot rolled coil prices to reach historic levels, with prices exceeding $1000 per metric ton, according to a report in Pakistani media. The high prices are believed to be a result of limited supply due to import restrictions. This situation has created challenges for downstream industries that rely on HRC as a raw material, particularly in pipe & CR sector

voda 29 maart 2023 09:59

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ArcelorMittal Vega Attains ResponsibleSteel™ Certification

ArcelorMittal Vega, a steel processing industry located in São Francisco do Sul, Santa Catarina in Brazil, has achieved the ResponsibleSteel certification, which establishes international standards for responsible production and processing of steel. The certification recognizes not only the high standard of the unit's production processes but also its efforts towards sustainability, diversity, and inclusion. According to the CEO of ArcelorMittal Aços Planos LATAM, Mr. Jorge Oliveira, the achievement demonstrates the company's commitment to responsible and sustainable steel production with people at the center of the actions.

The audit process was conducted by the independent consultancy DNV and lasted for approximately one year. The audit analyzed the unit's sustainable practices and processes, covering various areas of the company, particularly those related to ESG (Environmental, Social, and Governance) issues. The auditors also visited the unit's processes and interviewed company leaders, employees, suppliers, third parties, representatives of the government, and entities and institutions of the local community.

The certification was achieved during the largest expansion project in Vega's history, which is an investment to expand the unit by $350 million. The Environmental Management System implemented in the unit, which is certified by ISO 14001, was one of the positive points that contributed to the achievement, according to the report presented by DNV. This system endorses Vega's commitment to preserving the biodiversity of the region by promoting the identification and continuous monitoring of species of fauna and flora present in its Private Natural Heritage Reserve, which occupies one third of the industrial unit's land, as well as the elaboration of a Biodiversity Master Plan.

Through its Water Master Plan, Vega seeks to ensure the region's water resources and maintain the commitment to the well-being of the population, generating less impact on public sources, with the reuse of 98% of the water collected in the unit.

Since 2003, ArcelorMittal Vega has been one of the most modern steel processing plants in the world, and it is part of the ArcelorMittal group, a world leader in steel production. The company operates in the transformation of pickled, cold-rolled, and coated flat steels to serve various sectors, including automotive, appliances, and civil construction.

With the CMC Project, the largest expansion project in its history, Vega is expected to increase its production capacity from 1.6 million metric tons to 2.2 million metric tons of steel annually. The expansion represents an investment of $350 million, and the expectation is that the unit will also expand its product portfolio and start production of Magnelis®, a coating patented by ArcelorMittal with a wide application in the market, currently produced only in units in Europe and highly used in solar power generation projects.

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voda 29 maart 2023 09:59

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Salzgitter to Reline BF A at Flachstahl

German steelmaker Salzgitter is set to undertake a reline of its blast furnace A this summer, along with the reactivation of the smaller blast furnace C, which has been idle since 2019, says Kallanish citing Salzitter CEO Mr. Gunnar Groebler discussions in an investor call. The three-digit-million-euro investment for the reline at its strip steel unit, Salzgitter Flachstahl, comes ahead of the company's long-term transition towards low-emission technology, which will eventually lead to the abolishment of blast furnaces in favour of direct reduced iron plants and electric arc furnaces. The maintenance will be the last relining the company ever undertakes, according to Mr. Groebler.

The reactivation of blast furnace C was also discussed in 2021 and 2022, but was never brought about. It is unclear if BF C will remain online once the reline of BF A has been completed. Groebler commented that they are restarting BF C in May and will assess whether to keep it active once BF A is operational again, based on the market conditions.

To maintain stable volumes during the months of maintenance, the company has been pre-producing slab since autumn and storing them at the mill. Additionally, it can rely on slab from Hüttenwerke Krupp-Mannesmann, the Duisburg mill it owns with thyssenkrupp Steel and Vallourec.

voda 29 maart 2023 10:00

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Orissa High Court Stays Lease Process for Proposed JSW Utkal Steel Plant

The Orissa High Court has put a hold on the lease proceedings and alienation of forest categorised land for the proposed 65,000 crore steel project by JSW Utkal Steel Ltd in Odisha’s Jagatsinghpur district. A division bench of the High Court comprising justices Mr. Arindam Sinha and Mr. Sanjay Kumar Mishra directed the state government to comply with the rights of other traditional forest dwellers living in the area. The decision was made in response to a petition filed by Manas Bardhan and others from Dhinkia, Mahala, and Gobindpur villages under Dhinkia Gram Panchayat in Erasama Block.

The petitioners, who are traditional forest dwellers, have been living in the proposed steel plant site for a long time. They had earlier moved the high court challenging, under the Orissa Government Land Settlement Act, 1962 provisions, the alienation and diversion of forest land by government agencies.

The area is primarily known for betel, cashew, and paddy cultivation, and villagers grow a variety of vegetables and fruits in the region. The local forest also provides fuel, housing material, and other forest produce for the people. Additionally, the nearby Jatadhar river and its mouth are the only sources of sustenance for around 20,000-25,000 traditional fishermen living in the region. The proposed project site, known as Dhinkia Chaaridesh, comprises eight villages spreading over three Gram Panchayats, Dhinkia, Nuagaon, and Gadkujang, and the adjacent forest lands. The area is home to around 22,000 people, including a significant number of Dalits.

JUSL, a wholly-owned subsidiary of JSW Steel, received environment clearances (EC) from MoEFCC in April 2022 for setting up a Greenfield Integrated Steel Plant of 13.2 million tonnes per annum crude steel capacity. However, the National Green Tribunal suspended the ECs obtained by JUSL on March 20, 2023, due to the lack of proper evaluation of sourcing water from river Mahanadi and public hearing before the social impact assessment study. The NGT ordered that the matter needs fresh appraisal by the Environment Appraisal Committee and a fresh decision by MoEF&CC within three months. Until then, the ECs will remain suspended.

voda 29 maart 2023 10:00

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US Extends AD Duty on SS Butt Weld Pipe Fittings from Malaysia

US International Trade Commission has announced that the existing anti-dumping duty orders on stainless steel butt-weld pipe fittings from Malaysia, Italy and the Philippines will remain in place, as revoking them would harm American businesses within a reasonably foreseeable time. The decision came after an affirmative determination by the Commission under the five-year (sunset) review process required by the Uruguay Round Agreements Act.

The reviews concerning stainless steel butt-weld pipe fittings from Italy, Malaysia and the Philippines were instituted on November 1, 2022, and the commission voted to conduct expedited reviews on February 6, 2023. Under the Uruguay Round Agreements Act, the Department of Commerce is required to revoke an anti-dumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the USITC determine that revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies by Department of Commerce and of material injury by USITC within a reasonably foreseeable time.

voda 29 maart 2023 10:02

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EC Starts Hearing on Turkish Mills Appeal Against HR AD Duty

The European Commission has begun the hearing of Turkish steel mills' appeal against the anti-dumping duties imposed on flat steel products from Turkey. The appeal was made in response to the provisional duties applied by the EU on Turkish hot-rolled coil in January 2021. The products affected by the duty are certain flat-rolled products of iron, non-alloy steel, or other alloy steel, not further worked than hot-rolled, originating in Turkey. The Turkish producers believe that the duties are not fair, and hence appealed against it.

Despite the appeal, the Commission applied definitive anti-dumping duties on Turkish hot-rolled coil in April 2021. Turkish mills further appealed the duties in September 2021, and the EC scheduled a hearing for May 2022. The hearing began at the General Court of the EU on March 27, 2023, and is expected to take two days, with a final decision expected before the end of 2023.

Mr. Kerem Cakir, chairperson of the board at the Turkish Association of Cold Rolled, Galvanized, and Coated Coil Manufacturers (SOGAD), believes that the flat-steel sector in Turkey needs support to increase its exports. The European Commission also applied anti-dumping duties on hot-dipped galvanized coil imports from Turkey.

In July 2022, Turkey imposed an anti-dumping duty on HRC imports from the EU and South Korea. The export market for HRC is very slow in Turkey because of the duties, according to market participants. The products affected by the duty are certain flat-rolled products of iron, non-alloy steel or other alloy steel, whether or not in coils (including ‘cut-to-length’ and ‘narrow strip’ products), not further worked than hot-rolled, not clad, plated or coated, originating in Turkey, and currently falling under CN codes 7208 10 00, 7208 25 00, 7208 26 00, 7208 27 00, 7208 36 00, 7208 37 00, 7208 38 00, 7208 39 00, 7208 40 00, 7208 52 10, 7208 52 99, 7208 53 00, 7208 54 00, 7211 13 00, 7211 14 00, 7211 19 00, ex 7225 19 10 (TARIC code 7225191090), 7225 30 90, ex 7225 40 60 (TARIC code 7225406090), 7225 40 90, ex 7226 19 10 (TARIC code 7226191090), 7226 91 91 and 7226 91 99.

voda 29 maart 2023 10:08

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BaoSteel & Masteel Won 7th China Industrial Oscar Award

BaoSteel & Masteel of Baowu Group have been recognized for their outstanding achievements in China's industrial field, receiving the prestigious China Industry Award. BaoSteel won the award for its "High Performance Oriented Silicon Steel R&D, Manufacturing and Application" project, while Masteel Group received the China Industry Award Commendation Award.

Considered the highest award in China's industrial sector and known as the "Oscar Award" of the field, the China Industry Award recognizes outstanding achievements in independent innovation, transformation, and upgrading, green and low-carbon initiatives, and the modernization of the industrial and supply chains.

This year's award saw 19 companies and 19 projects receive the China Industry Award, 26 companies and 22 projects receive the China Industry Award of Merit, and 17 companies and 20 projects receive the China Industry Award Nomination Award. The recipients this year have demonstrated a strong commitment to independent innovation, transforming and upgrading their industries, and enhancing the modernization level of the industrial and supply chains.

The award highlights the hard-core strength of Chinese manufacturing and the progress made towards high-quality development of the industry. The recognition is a testament to the dedication of companies like BaoSteel and Masteel Group to innovation and excellence, and their contributions to driving the growth and development of China's industrial sector.

voda 29 maart 2023 10:08

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Sanming Orders Next KOCKS 3 Roll RSB®

Fujian Sangang Minguang Group, a Chinese producer of special bar quality products, has ordered a Reducing & Sizing block from Friedrich KOCKS. The RSB® 500++/4 in StarDrive design will be installed in Sanming's new rolling mill complex in Fujian province, which will produce high-quality steel products for various industries. The integration of KOCKS' 3-roll technology into the new rolling mill complex is expected to bring significant benefits to the production process. The RSB® 500++/4 in StarDrive design is equipped with advanced technology that allows for precise control of the rolling process, resulting in consistent and high-quality output.

The Reducing & Sizing block will be located as a finishing unit after a 2-high Reversing Roughing Mill and 10 stands in H/V rolling mill arrangement to produce straight bars within a diameter of 50-30mm in an 800,000 metric tons mill line. The installation is expected to be completed in early 2024.

Sanming, which was founded in 1958 and is part of the Sangang group, is committed to providing its customers with top-quality steel products. To achieve this goal, the company has chosen to build a new medium bar rolling mill featuring state-of-the-art equipment and highly reliable and automated processes. Sanming's decision to invest in KOCKS' technology demonstrates the company's commitment to quality and innovation. The new rolling mill complex is expected to further enhance Sanming's position as one of the most important steel producers in the Fujian province and will play a crucial role in meeting the growing demand for high-quality steel products in China and beyond.

voda 29 maart 2023 10:08

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Steel Tube Institute Announces Stainless Steel Conduit Subcommittee

Chicago based US’ Steel Tube Institute has announced the formation of a new subcommittee aimed at advancing the use of stainless steel conduit in the industry. The Stainless Steel Conduit Subcommittee will work with outside codes and standards-making bodies to promote and support the use of stainless steel conduit and competing products.

STI Executive Director Mr.Dale Crawford said the committee will partner with industry groups and associations to ensure that the best possible stainless steel conduit products are being used in every application. The subcommittee is partnering with RobRoy Industries, Gibson Stainless, and Calbrite, an Atkore International Company, to help create safe, sanitary, and regulated standards surrounding the use of stainless steel conduit.

The formation of the subcommittee marks a significant milestone for the Steel Tube Institute, which was formed in 1930 to promote and market steel tubing. The subcommittee's formation is the first new committee at STI in several decades and will focus on improving manufacturing techniques and informing customers about their products' utility, versatility, and competitive advantages.

voda 29 maart 2023 10:09

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Cochin Shipyard to Build 6 Vessels for German Shipping Major

Indian shipbuilding and maintenance company, Cochin Shipyard Ltd has secured a contract to build six advanced, multipurpose vessels for German shipping company, HS Schiffahrts. A steel-cutting ceremony was conducted on Monday to mark the commencement of construction of the six HS Eco freighter 7000 DWT multipurpose vessels.

The vessels are 110m long and 16.5m wide, with ice-class certification, a carrying capacity of about 7,000 tons, and are equipped to carry various types of cargo. The ships will be built under DNV classification and will have the flag of Portugal.

This contract marks CSL's entry into the European Shortsea shipping market, where vessels play a key role in the logistics network from ports in the North Sea to ports in the south Mediterranean.

CSL has a strong presence in defense shipbuilding and has recently delivered India's first-ever Indigenous Aircraft Carrier, INS Vikrant, and eight anti-submarine corvettes for India's Navy, which is currently under construction.

voda 29 maart 2023 10:09

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US DOC to continue CVD order on wire rod from Italy

The US Department of Commerce has announced the results of the sunset review on the countervailing duty order on carbon and alloy steel wire rod from Italy. The DOC has found that revocation of the CVD order on this product from the country would likely lead to a continuation or recurrence of subsidies. The final subsidy rates have been set at 44.18% percent for Ferriera Valsider and 4.16% for Ferriere Nord and all other Italian exporters. The countervailing duty for the company is applicable from March 28.

The DOC's decision follows the notice of initiation of the first sunset review of the order, which was published on December 1, 2022. The DOC received a notice of intent to participate from domestic interested parties, including Charter Steel, Commercial Metals Company, Liberty Steel USA, Nucor Corporation and Optimus Steel, who claimed interested party status as domestic producers of wire rod in the United States.

The CVD order on wire rod from Italy was initially published on May 21, 2018. The DOC's decision to continue the CVD order is expected to help protect domestic wire rod producers from unfairly subsidized imports from Italy. The DOC is committed to ensuring fair trade practices and will continue to take necessary actions to address unfair trade practices that harm domestic industries.

voda 29 maart 2023 10:16

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Metalloinvest completes the first stage of digitalization of HR processes

Metalloinvest, a Russian mining & steel company, has successfully completed the first stage of its transition to electronic document management. Over 1500 employees of the company's Management Company and corporate service center have been transferred to the new format of paperwork, which will streamline the process and reduce costs associated with printing, storage, and equipment for archives. The implementation of the new system, called KEDO, is being carried out by IT company JSA Group.

KEDO will allow for the speedier registration, approval, and signing of over 50 types of documents, including employment contracts, regulations, and administrative and reference documents. The approval and signing process has been accelerated by over 20 times. By the end of this year, Metalloinvest plans to connect all of its industrial enterprises, including Lebedinsky GOK, Mikhailovsky GOK and OEMK to the KEDO system.

Each employee in the KEDO system will have a personal account where all work-related documents are stored, and access to it will be available from a computer or mobile device using a one-time password or a code from an SMS. An enhanced unqualified electronic signature will allow for quick and easy signing of documents, which will be issued by the employer and used only in this service to regulate labor relations. The successful implementation of KEDO marks a significant step towards a more efficient and cost-effective system for Metalloinvest.

voda 29 maart 2023 10:16

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Zaporizhstal Producing Steel 50 Km Away from Conflict Zone

Metinvest’s Zaporizhstal steel plant in southwestern Ukraine has been struggling to operate at full capacity due to the impact of the ongoing conflict in the country. With a third of its 10,000 workers idle, the plant has been hit hard by power outages from Russian missile attacks, damage to infrastructure, and blocked Black Sea ports. The plant is less than 50 kilometers from the front line, making it a frequent target of Russian shelling. Despite this, workers at the plant continue to brave the dangers to keep the molten metal moving.

Although Zaporizhstal has not been damaged by artillery fire or missile strikes, the plant's growth has been hindered by the war. Before the conflict, the plant could complete a batch of steel strips used in household appliances and deliver them in a month or two. Now, it could take three months or longer. Prices for the plant's products have also increased, and they are harder to get to customers, with trains mostly used to transport orders.

The metal industry is a key employer and a pillar of the Ukrainian economy, accounting for a third of the goods exported by the country before the war. However, the industry has been upended by Russian forces who have taken control of the industrial heartland of the Donetsk and Luhansk regions. The KSE Institute of Ukraine estimated that damage to Ukrainian businesses as a whole from the war amounts to $13 billion. Economic output shrank by about a third in 2022, and the economy ministry forecasts growth of only 1% this year.

voda 29 maart 2023 10:17

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Cleveland-Cliffs Honored as GM Supplier of the Year 2022

Cleveland-Cliffs, a leading American steelmaker, has been named a 2022 GM Supplier of the Year by General Motors for the sixth year in a row. The announcement was made at the 31st annual awards ceremony in San Antonio, Texas, which celebrates distinguished global suppliers that exceed GM's requirements by delivering innovative technologies and maintaining among the highest quality in the automotive industry.

This recognition is a testament to Cleveland-Cliffs' deep commitment to serving the automotive industry, as well as its position as the leading automotive steel supplier in North America. Mr. Lourenco Goncalves, Chairman, President, and CEO of Cleveland-Cliffs, expressed his gratitude for the partnership with General Motors and said that the award is a great recognition for everything the company does, from product quality to customer service to innovation.

The Supplier of the Year recipients are chosen every year by a global, cross-functional GM team for their performance in business and cultural criteria, including quality, launch, supply chain, total enterprise cost, innovation and engineering, communication and transparency, and safety. Cleveland-Cliffs' continued recognition in this category shows its dedication to these areas of business, and its ability to provide exceptional service to its clients.

Headquartered in Cleveland, Ohio, Cleveland-Cliffs is a leading steel and mining company with around 27,000 employees across its operations in the United States and Canada. The company acquired AK Steel in Middletown for $1.1 billion in 2020 and then went on to purchase the US assets of ArcelorMittal for $1.4 billion, making it the largest flat-rolled steel producer in North America.

The GM Supplier of the Year award reinforces Cleveland-Cliffs' position as a leader in the automotive industry and highlights its continued commitment to providing high-quality products and services to its customers. The company looks forward to continuing its partnership with General Motors and to meeting the ever-changing needs of the automotive industry.

voda 29 maart 2023 10:19

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thyssenkrupp to Showcase Electrical Steel strips at Coiltech Germany

thyssenkrupp Steel and thyssenkrupp Electrical Steel are set to showcase their non-grain-oriented (NO) and grain-oriented (KO) electrical steel strips at Coiltech Germany, an international trade show and conference for coil and winding industry specialists. The event will take place on March 29 and 30, 2023, at Augsburg in Hall 1, booth E14. The exhibition will focus on materials and machinery for the production of electric motors, generators, transformers, and coil windings.

Thyssenkrupp Steel is a leading supplier of non-grain-oriented (NO) electrical steel in Europe. Meanwhile, thyssenkrupp Electrical Steel is the European market leader for grain-oriented (KO) electrical steel, with global activities and locations in Gelsenkirchen (Germany), Isbergues (France), and Nashik (India).

The company's powercore® and powercore® Traction brands are grades of electrical steel with the highest energy efficiency standards for electric motors and generators. The powercore® Traction brand has been specially developed to meet the requirements of highly efficient and powerful electric drives in electric mobility. The powercore® brand is characterized by particularly low core losses, and thus achieves high efficiency levels in current conversion. The ultra-thin electrical steel strips, no thicker than 0.23 mm, are used primarily in modern high-efficiency and low-noise transformers.

voda 29 maart 2023 10:21

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SSAB Presents Updated Financial Targets

Swedish steel manufacturer SSAB has announced revised financial targets during its Capital Markets Day in Stockholm. The company's new targets include maintaining an industry-leading EBITDA margin compared to its peers such as ArcelorMittal, Nucor, Salzgitter, Tata Steel Europe, ThyssenKrupp and US Steel. This target remains unchanged from its previous target.

However, the company's net gearing ratio has been revised to a range of minus 20% to 20% (Net Debt to Equity), which is a significant change from the previous target of not exceeding 35%. SSAB's new dividend policy states that the company will pay 40% of profit after tax, an increase from the previous target of 30-50% of profit after tax.

Before determining yearly dividend proposals and capital structure adjustments, SSAB's management and board of directors will evaluate capital needs based on market outlook, CAPEX plans, and other considerations.

The company's previous financial targets were aimed at strengthening its balance sheet and improving its profitability. The revised targets indicate that SSAB is confident in its ability to maintain a strong financial position and deliver value to its shareholders. SSAB's new targets align with its strategic goals and long-term vision. The company aims to reduce its carbon emissions and become a leader in sustainable steel production. By improving its financial performance, SSAB can continue to invest in sustainable technology and meet its environmental targets while delivering value to its stakeholders.

voda 29 maart 2023 10:21

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South Africa to Impose AD Duty on Coated Steel from China

South Africa's International Trade Administration Commission has announced its preliminary decision to impose an anti-dumping duty on certain plated or coated flat-rolled products of iron or non-alloy steel originating from China. The decision comes on behalf of the Southern African Customs Union and imposes a provisional AD duty at a rate of 35.9% on the subject goods for a period of six months, effective until September 16, 2023. The ITAC has urged all interested parties to submit their comments, objections, or representations in writing to the commission within 21 days of the announcement. The ITAC will review all submissions before making its final decision.

The ITAC made its decision following an investigation into allegations of unfair trade practices, such as dumping, by Chinese exporters. The preliminary determination is subject to a final decision by ITAC, which is expected to be made by September 16, 2023. According to the announcement, the provisional duty will be levied on a non-cumulative basis, which means that the duty rate will not apply to goods imported into the country in a quantity less than or equal to the volume specified in the determination.

The products covered under the investigation include flat-rolled products of iron or non-alloy steel, with a width of 600 mm or more, clad, plated, or coated with zinc, and of a thickness of less than 0.45 mm. The products are classified under HS code 7210.49.10.

The decision is expected to provide relief to South African steel producers, who have been struggling with low demand and high levels of imports. The imposition of the AD duty is aimed at preventing the import of low-priced products that could harm the domestic industry and create unfair competition.

voda 29 maart 2023 10:22

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Colombia Opens AD Duty Probe on SS Dishwashers from China

The Colombian Ministry of Commerce, Industry and Tourism has initiated an anti-dumping sunset review investigation on stainless steel dishwashers from China weighing 8 kilograms or less. The review process will determine if the AD duties imposed on the products are still necessary to protect the Colombian domestic industry from unfair trade practices. According to the MCIT, the investigation will assess if there is a likelihood of continuation or recurrence of dumping and injury to the domestic industry if the anti-dumping duties are removed. The review period will cover the period from January 1, 2022, to December 31, 2022.

The MCIT will issue its final determination on the review within 180 working days from the date of the publication of the notice in the official gazette. The decision will be based on the information and evidence gathered during the investigation.

During the review period, the definitive AD duty established in the resolution on March 21, 2018, will remain in force.

The decision follows an application filed by Socoda, a Colombian company that manufactures and distributes domestic appliances.

The products under investigation are classified under HS code 7324.10.00.00.

voda 29 maart 2023 10:23

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CSC Swings to Black in February after 4 Months

China Steel Corp, Taiwan's largest integrated steel producer, has reported a pre-tax profit of $2.3 million in February, marking CSC's first profitable month since last September, despite suffering a loss of $35.8 million in the January 2023. The profit was driven by the recovery of carbon steel sales and the lifting of list prices for major steel products. CSC's carbon steel sales in February reached 667,207 metric tons, a significant increase of 21.5% from the previous month.

The company has steadily raised its monthly list prices of major steel products since the start of this year due to higher production costs, global steel price increases, and expectations of steel demand recovery. The company has raised the list prices of its major steel products further for Q2 sales, with monthly-priced products rising by another $28-33 per metric ton for April.

CSC anticipates that its business performance will continue to improve with the traditional peak season for steel consumption and global manufacturing activity recovery boosting steel demand.

voda 29 maart 2023 10:23

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US DOC Finds Ukraine OCTG Were Sold Below Normal Value

The US Department of Commerce (has concluded that oil country tubular goods from Ukraine were sold at prices below normal value during the period from July 1, 2020, to June 30, 2021. This determination was made in the final results of the anti-dumping duty administrative review released by the agency.

As per the findings, Interpipe Europe, Interpipe Ukraine, Interpipe Niznedneprovsky Tube Rolling Plant, and Interpipe Niko Tube, all from Ukraine, were found to have a weighted-average dumping margin of 1.55%. This means that these companies sold OCTG products in the US market at 1.55% below their normal value.

The USDOC's decision will result in an anti-dumping duty being imposed on these companies, which will take effect from March 23, 2023. This duty is intended to offset the unfair trade practices and restore fair competition in the US market for OCTG products.

The USDOC's review was initiated in August 2021 following a petition from domestic OCTG producers, who claimed that Ukrainian companies were selling their products at unfairly low prices, thereby harming the US industry. The review covered imports worth approximately $130 million from Ukraine during the period of investigation.

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