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voda 16 mei 2023 07:56

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Canadian Steel Producers Applaud Government's Trade Measures, Ensuring Equitable Conditions

The Canadian Steel Producers Association has expressed its appreciation for the utilization of trade measures by the Canadian government and Canada Border Services Agency to establish fair conditions within the country's steel industry.

Ms. Catherine Cobden, the President and CEO of the CSPA, highlighted the significance of recent investigations and assessments. These measures, which focused on corrosion-resistant steel, rebar, and line pipe, reflect Canada's ongoing commitment to combating unfair trade practices. Cobden further emphasized that the identification of a particular market situation in Turkey demonstrates Canada's unwavering determination to crack down on trade imbalances.

These measures, including retroactive duty assessments, have been implemented to combat the challenges posed by increasing imports from overseas. In response to this issue, the CSPA had earlier called for swift action to safeguard the competitiveness of the domestic steel sector and protect jobs.

The re-investigation conducted by the CBSA regarding the importation of certain rebar from Turkey revealed the existence of a unique market situation. As a result, a comprehensive comparison between the sales of goods in Turkey and those imported into Canada was deemed impractical. This finding underpins the necessity of implementing measures to ensure a level playing field for the Canadian steel industry.

voda 16 mei 2023 07:56

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IDC Receives Green Light for Solar Power Plant Investment

Izmir Demir Qelik Sanayi, a prominent rebar producer in Turkey, has recently announced that its subsidiary, izdemir Enerji Elektrik Uretim, has obtained environmental approval from Turkey's Ministry of Environment and Urbanization for its planned solar power plant investment in Manisa.

The proposed power plant, with an estimated value of $40 million, is set to contribute a substantial power generation volume of 147 MWe. Notably, the installation will include photovoltaic panels with a value of $32.58 million, providing an impressive installed capacity of 24.1 MWe.

In parallel with these developments, IDC has also submitted an application to Turkey's Energy Market Regulatory Authority for an additional installed power capacity of 51 MWe. This move signifies IDC's commitment to further expand its renewable energy initiatives and strengthen its presence in the sustainable power sector.

voda 16 mei 2023 07:56

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CBI Launches Probe into Bank Fraud Case Against Loha Ispaat

The Central Bureau of Investigation has recently taken action against Loha Ispaat Limited, a private company based in Maharashtra, for its alleged involvement in a bank fraud case. The company is accused of manipulating their accounts to secure loans from multiple banks, including the State Bank of India, Bank of India, Canara Bank, Indian Overseas Bank, Punjab National Bank, and Bank of Maharashtra, resulting in a staggering loss of approximately ?1,017.93 crore.

The FIR filed by the State Bank of India names several individuals, including Chairman cum Managing Director Rajesh Gaurishankar Poddar, Whole-time Director Sanjay Bansal, Director and Guarantors Rajesh Mohanlal Agarwal, Anju Poddar, and Manish Omprakash Garg, along with unknown public servants and unidentified persons involved in the fraudulent activities.

The bank's complaint reveals that the accused orchestrated a conspiracy to deceive the consortium member banks by fabricating sales and purchase transactions within the company's accounts. This deceptive manipulation allowed them to misappropriate funds and evade repayment of outstanding loans, amounting to approximately ?1,017.93 crore.

Following the filing of the case, the CBI conducted extensive searches across various locations in Delhi, Mumbai, Raigad, and Thane. During these searches, incriminating documents and articles were reportedly seized from both the residential and official premises of the accused individuals. The investigation is currently underway as the CBI delves deeper into the intricate web of this bank fraud case.

voda 16 mei 2023 07:57

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Tenaris Saudi Steel Pipe Secures Major Contract from Aramco

Tenaris Saudi Steel Pipe, a prominent player in the steel pipe manufacturing industry, has emerged victorious in a competitive bidding process, clinching a substantial contract worth SAR 96.8 million from a leading energy conglomerate, widely believed to be Saudi Aramco. The contract specifically entails the provision of high-quality steel pipes for the oil and gas sector.

The steel pipe manufacturer divulged that the agreement spans an impressive 13-month period.

voda 16 mei 2023 07:57

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KIOCL Enacts Temporary Closure of Mangalore Pellet Plant

In a move necessitated by their unwavering commitment to operational excellence, the state-controlled Indian iron ore pellet producer, KIOCL, has taken the decision to temporarily shutter its Mangalore pellet plant. Effective from 13th May, the closure aims to facilitate a comprehensive round of preventive maintenance, ensuring the plant's continued productivity and efficiency.

This strategic maneuver follows a precedent set last year when the company faced a tumultuous five-month hiatus from operations due to a government-imposed export duty of 45%, which remained in effect from mid-May onwards. However, KIOCL's resilience and dedication to overcoming adversities prevailed, allowing them to reestablish their operations swiftly and efficiently.

voda 17 mei 2023 07:17

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European apparent demand trends below real consumption: conference
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European apparent steel demand is set to continue remaining below real consumption this year, exacerbating challenges for the European domestic industry, Heather Wijdekop, director commercial Ijmuiden at Tata Steel Europe, said at Tuesday’s Kallanish Europe Steel Markets conference in Amsterdam.

Wijdekop noted that until the Covid outbreak in 2020, apparent and real demand patterns for steel were following strictly seasonal movement, giving the opportunity for the industry to plan and strategise accordingly. Since 2020, the seasonality has been lost and volatility in demand patterns has increased.

During the second half of last year, strong destocking activity started in the European steel sector. This has pushed apparent demand below real steel consumption. This trend is ongoing and expected to continue further this year and the next, forcing suppliers to change their attitude towards the market, Wijdekop added.

According to Eurofer, apparent steel consumption in Europe this year is set to move down 1% year-on-year after a 7.2% y-o-y contraction in 2022. Real consumption, on the other hand, will rise 0.3% y-o-y after 0.2% y-o-y growth last year.

Other speakers at the conference concurred, pointing out there are some bright spots for steel demand, such as automotive, but low stocks in the supply chain and slow recovery of apparent demand are creating issues.

Francois-David Martino, chief executive of Becker Stahl-Service, confirmed that automotive demand has recovered faster than expected since the end of last year, creating disruptions in the supply chain. “Last year, the service centres and distributors reduced stock levels, but now we find ourselves in a difficult spot due to the recovery of demand in the automotive sector,” he explained.

Further challenges could come from European domestic supply of steel products, currently facing delays due to ongoing issues at blast furnaces as well as finishing lines on the continent. “From our side, we have turned the corner on the supply constraints and our situation is improving,” Wjidekop noted, referring to the cold rolled coil supply disruption that triggered a force majeure declaration at Ijmuiden in February. “There will nevertheless continue to be some supply constraints for sure in Europe.”

On the conference sidelines, an executive from another European steelmaker noted that if a sudden improvement in sentiment in Europe would trigger better-than-expected demand, this could push the continent back into a scenario similar to the one seen during the 2021 recovery following Covid production disruption.

Emanuele Norsa Italy

voda 17 mei 2023 10:41

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China's Metallurgical Output Wanes Amidst April's Languor

In a recent report released by China's National Bureau of Statistics, the country's steel industry showcased a resilient performance in the first four months of the year. The outputs of pig iron, crude steel and finished steel reached a staggering 297.63 million metric ton, 354.39 million metric ton and 446.36 million metric ton respectively. These figures represent year-on-year growth of 5.8 percent, 4.1 percent, and 5.2 percent, impressively defying the economic headwinds faced by the nation.

Notably, April's individual numbers revealed a mixed bag for China's steel sector. Pig iron production totaled 77.84 million metric ton, marking a slight 1.0 percent increase compared to the previous year. Conversely, crude steel and finished steel outputs experienced a minor dip of 1.5 percent and a notable rise of 5.0 percent year on year, respectively. However, a closer look reveals a concerning decline of 0.29 percent, 3.23 percent, and 5.74 percent on a month-on-month basis for pig iron, crude steel, and finished steel.

The decline in production during April can be attributed to Chinese steelmakers strategically curbing their output. The intention behind this move was to stabilize steel prices, which had been experiencing a continuous downward spiral.

voda 17 mei 2023 10:41

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Acciaierie d'Italia to Unleash Green DRI Plants in 2026

Italy is poised to make a significant stride in its steel industry as the nation's first direct-reduced iron plant is set to commence production in 2026, according to Mr. Franco Bernabe, the Chairman of Acciaierie d'Italia and President of DRI D'Italia.

Speaking at the esteemed Made in Steel conference and exhibition, Mr. Bernabe revealed that the preliminary selection of the DRI technology is underway, with the final investment decisions expected in July.

DRI D'Italia plans to construct two DRIs, each boasting a capacity of 2 to 2.5 million metric tons. One DRI facility will supply Acciaierie d'Italia, formerly the largest flat steel producer in Italy, with an installed capacity of 8 to 9 million metric tons of crude steel.

Concurrently, the new electric arc furnace, also slated for completion in 2026, will be supplied by this DRI. The second DRI is intended to cater to a consortium of private steelmakers, primarily located in the northern part of the country, who rely

Acciaierie d'Italia, presently operating BF1 and BF4, idled BF2 last July due to sluggish demand, declining steel prices, and high production costs. Additionally, BF5, with a capacity of 3.5 million metric tons per year, has remained inactive since 2015. Bernabe confirmed that BF2 would resume production in the latter half of the year and reiterated the company's commitment to revamping BF5 using an innovative green technology with carbon capture.

voda 17 mei 2023 10:41

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Metinvest Ready To Join Europe's Green Transition

In a remarkable address at the prestigious Made in Steel conference in Milan, Mr. Yuriy Ryzhenkov, CEO of Metinvest Group, unveiled an ambitious vision that aligns perfectly with the principles of Europe's green transition.

During his impassioned speech, the CEO expressed his wholehearted endorsement of the Ukrainian government's strategy for post-war reconstruction, emphasizing the importance of renewable and nuclear energy.

He highlighted Ukraine's abundance of nuclear energy reserves, which possess the potential to generate environmentally friendly hydrogen. This, he proclaimed, positions Ukraine to supply the raw materials necessary for the production of direct reduction iron to meet Europe's burgeoning demand.

Drawing attention to Metinvest's status as the largest iron ore producer in Ukraine, he underscored the country's status as Europe's leading producer of iron ore products

Significantly, Ukraine has already made substantial strides towards decarbonization. A remarkable 65% of its energy balance is comprised of nuclear energy, complemented by 10-15% renewable energy sources and 10% hydrogen.

Leveraging these accomplishments, the CEO articulated his vision to construct DRI facilities in Ukraine, seamlessly integrating them into the EU's common product chain. He posited that this move would not only contribute to Ukraine's reconstruction but also fortify its ties with the European Union.

voda 17 mei 2023 10:42

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JSP’s Profit Plummets in 2022-23

In a standalone performance update, Jindal Steel & Power reported a production figure of 2.02 million metric tons for the quarter, experiencing a marginal 2% decline quarter-on-quarter. However, sales volume reached 2.03 metric tons, indicating a notable 7% increase QoQ. Notably, exports accounted for 11% of total sales volume, a significant surge compared to 5% in the previous quarter, demonstrating resurgence in exports after the withdrawal of export duty.

Pellet production, on the other hand, witnessed a 3% decline QoQ, with external pellet sales amounting to 42 kt, down from 53 kt in the preceding quarter.

Gross revenue for the quarter remained steady at ?15,480 crore, while adjusted EBITDA experienced a 1% QoQ improvement, reaching ?2,178 crore, thanks to an increase in net sales realization partially offsetting higher raw material costs, particularly iron ore expenses.

The net profit for the quarter stood at INR ?789 crore, a substantial improvement from the net loss of INR ?4,512 Cr recorded in 3QFY23.

Turning to the global ventures performance, JSP's Mozambique operations reported a ROM production of 0.98 million metric tons, reflecting a 22% decline QoQ. Coking coal sales stood at 179 kt, contributing to the operating EBITDA of $9 million recorded for 4QFY23.

For the fiscal year 2022-23, JSP's production stood at 7.89 million metric tons compared to 8.01 million metric tons in the previous fiscal year. Total sales, including pig iron, reached 7.68 million metric tons, slightly surpassing the 7.64 million metric tons achieved in FY22, despite the imposition of export duty on steel exports, resulting in a 60% decline in export volumes to 0.99 million metric tons compared to 2.51 million metric tons in FY22.

Seizing the opportunity presented by robust demand, JSP managed to boost domestic sales by an impressive 30% year-on-year.

Pellet production remained relatively unchanged at 7.57 million metric tons in FY23, while pellet sales amounted to 0.23 mt compared to 0.75 mt in FY22.

In FY23, Mozambique operations witnessed an increase in ROM production, reaching 4.3 million metric tons compared to 4.1 million metric tons in FY22. Correspondingly, coking coal sales also improved, totaling 759 kt, compared to 700 kt in FY22. Notably, Mozambique operations achieved an operating EBITDA of $123 million, marking an impressive 92% YoY increase, while PAT reached $37 million, reflecting a growth of 68% YoY.

JSP's gross revenue reached an impressive ?58,970 crore, showing a notable increase of 7% compared to the previous period. However, the EBITDA figures were not as favorable, experiencing a significant decline of 42%, with a total of ?8,562 crore. The profit also suffered a substantial decrease, plunging by 71% to reach ?2,427 crore. These results indicate a challenging period for the company, with its financial performance taking a hit.

voda 17 mei 2023 10:42

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Public Backs Green Steel Investment in UK

In a recent YouGov survey, an overwhelming majority of adults in Great Britain expressed their support for the government's investment in the steel industry to facilitate the much-needed decarbonization efforts. This growing consensus among the public reflects recognition that transitioning to greener technologies and industries is crucial for reducing the country's environmental impact.

However, the public's view on investing in green steel goes beyond the pursuit of net zero emissions. It is also driven by a desire for a secure, resilient, and robust manufacturing sector in an increasingly uncertain world. The survey revealed that more than 70% of adults in Great Britain prefer the government to invest in domestic steel, thus supporting job creation and manufacturing within the country rather than relying on foreign sources.

Furthermore, a significant majority, around 67%, believe it is essential to have a reliable British supply of steel.

Chairman of Tata Steel UK, Mr. Henrik Adam, emphasized the critical juncture at which the UK steel industry finds itself. The decision lies between relinquishing steel production, which would result in the loss of self sufficiency, resilience, and thousands of well-paid jobs in steel communities, or pursuing an alternative path that transforms steelmaking to align with future needs. Mr. Adam envisions an exciting opportunity for the industry: Green Steel.

voda 17 mei 2023 10:42

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Arizona State University lead Clean Energy Manufacturing Innovation Institute

The US Department of Energy has bestowed a momentous opportunity upon Arizona State University, granting it up to $70 million to establish a groundbreaking Clean Energy Manufacturing Innovation Institute.

This transformative endeavor, known as Electrified Processes for Industry Without Carbon, aims to tackle the colossal challenge of reducing greenhouse gas emissions stemming from industrial process heating. Arizona State University will spearhead this multi-institutional collaboration.

EPIXC seeks to revolutionize industrial processes by promoting the extensive utilization of clean electricity for process heating. By doing so, it aspires to effect a momentous reduction in CO2 emissions across various industrial sectors, including iron and steel, chemicals, petroleum, food and beverage, forest products, and cement.

Operating as a public-private partnership, the institute will undertake innovative research, development, demonstration, and deployment of cutting-edge technologies, accompanied by essential workforce training.

However, the vision of EPIXC transcends technological advancements. Seetharaman emphasizes the crucial importance of addressing social justice concerns inherent in the energy landscape. Historically, petrochemical plants have disproportionately impacted certain communities, resulting in adverse health consequences. The new energy landscape must strive for justice and equitable distribution of benefits as it progresses.

According to Mr. Sridhar Seetharaman, the director of EPIXC and vice dean for research and innovation in the Ira A. Fulton Schools of Engineering at ASU, the industrial sector alone accounts for over 30% of the nation's greenhouse gas emissions. Fossil fuel-dependent process heating, encompassing activities such as milk pasteurization and steel melting, emerges as the primary culprit driving these emissions.

ASU leads the EPIXC initiative alongside esteemed partners such as the University of Texas at Austin, Texas A&M University, Pennsylvania State University, Stanford University, Missouri University of Science and Technology, Tuskegee University, North Carolina State University, Navajo Technical University, Idaho National Laboratory, the National Energy Technology Laboratory, the National Renewable Energy Laboratory, and the SLAC National Accelerator Laboratory. KB Science provided strategic guidance during the proposal's development.

voda 17 mei 2023 10:43

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LKAB's Environmental Permit Pavies the Way for a Green Transition

In a groundbreaking move, LKAB has submitted a momentous environmental permit application, marking a pivotal moment in the company's transformation in Gällivare. The permit encompasses various plans, including the establishment of HYBRIT's inaugural demonstrator plant and a novel apatite plant designed to extract phosphorus and rare earth elements from existing waste streams.

Mr. Jan Moström, the President and Group CEO of LKAB, stressed “The decisive nature of this application for the company, Gällivare, the region, Sweden, and the future of Europe. As LKAB embarks on the most momentous transition in its history, time is of the essence. An ambitious schedule looms before us, demanding that both LKAB and society demonstrate their ability to address complex issues inherent in environmental permit applications, while expediting the transition. Moström emphasized that it all commences in the mines, as fossil-free steel, electric vehicles, and wind turbines all rely on the existence of these mines.”

LKAB has embarked on a phased transformation of its mining and processing operations with the ultimate goal of achieving carbon dioxide-free products and processes by 2045. In Gällivare, the pioneering HYBRIT process, based on hydrogen, will be tested on an industrial scale for the first time.

Gällivare's role in LKAB's transition from conventional pellet production to carbon-dioxide-free sponge iron is of utmost importance. The aim is to achieve an annual production target of approximately 5.4 million tonnes by the early 2030s, aligning with SSAB's objective to transform its operations in the Nordic region.

voda 17 mei 2023 10:43

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NuScale & Nucor Forge Partnership for Sustainable Energy Solutions

NuScale Power and Nucor Corporation have embarked on a momentous journey together by signing a Memorandum of Understanding to explore the co-location of NuScale's VOYGR™ small modular nuclear reactor power plants with Nucor's Electric Arc Furnace steel mills.

This collaboration aims to provide clean and dependable baseload electricity to Nucor's mills while also delving into an expanded manufacturing partnership, wherein Nucor would supply Econiq™, its net-zero steel products, for NuScale projects.

Under the MOU, the two companies will assess site suitability, transmission interconnection capabilities, and capital costs for potential NuScale plants near Nucor EAF steel mills to provide carbon-free electricity. Additionally, NuScale will explore the feasibility of establishing a manufacturing facility for NuScale Power Modules™ in proximity to a Nucor facility.

NuScale's VOYGR power plants offer scalable configurations capable of producing up to 924MWe of output, making them ideal for industrial applications that require highly reliable carbon-free energy.

As the first and only SMR design certified by the U.S. Nuclear Regulatory Commission, NuScale's VOYGR plants boast fully passive safety features, eliminating the need for an external grid connection for crucial safety functions. This allows for greater flexibility in siting the plants near industrial users like Nucor, including improved Emergency Planning Zone boundaries.

voda 17 mei 2023 10:43

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Mr. Leon Topalian of Nucor Receives Prestigious Gary Memorial Medal

In a momentous announcement, the American Iron and Steel Institute (bestowed the esteemed Gary Memorial Medal upon Leon Mr. Topalian, Chair, President, and CEO of Nucor. This prestigious accolade, recognized as the highest honor in the industry, was presented during AISI's General Meeting in Washington, DC.

Mr. Topalian, who has played a pivotal role as the outgoing chairman of the AISI Board of Directors and has held various leadership positions within AISI, was celebrated for his exceptional contributions.

The citation from the Board of Directors commended Topalian for his relentless dedication to addressing critical public policy issues that will have a lasting impact on the future of the American steel industry. Moreover, his extraordinary leadership during a period of unprecedented change, exacerbated by the global pandemic, was hailed as exceptional. Additionally, Topalian's unwavering commitment to promoting American steel as the material of choice for constructing a more sustainable world was recognized and applauded.

The Gary Memorial Medal symbolizes the highest honor one can achieve in the steel industry. It serves as a reminder of the significant contributions made by remarkable individuals like Leon Topalian, who have dedicated their lives to advancing the steel industry and shaping its future. As the industry continues to evolve, his influence will undoubtedly leave a lasting legacy, inspiring future generations of steel industry leaders to push boundaries and drive progress.

voda 17 mei 2023 10:43

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Swoctem Achieves Substantial Stake in Klockner & Co

In a noteworthy development, investment firm Swoctem has successfully obtained over 40 percent ownership of steel trader Klockner & Co through a voluntary public takeover bid. Following the conclusion of an additional acceptance period,

Swoctem now holds approximately 41.53 percent of the registered share capital and existing voting rights, as announced by Friedhelm Loh, the major shareholder of Klockner, through his investment company. However, the finalization of the offer is contingent upon approval from the antitrust authorities, which is anticipated in the third quarter of this year.

Shareholders of Klockner had until May 12 to submit their shares for tender. The cash offer amounted to 9.75 euros per share and did not impose a minimum acceptance threshold. Notably, Loh, the major shareholder, is not seeking a controlling stake, indicating that Klockner will continue to be listed on the stock exchange.

voda 17 mei 2023 10:44

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Larac & Tata Steel Collaborate to Foster Sustainability

The Local Authority Recycling Advisory Committee has forged a partnership with Tata Steel to champion the proper utilization of steel packaging recycling, aiming to enlighten the public about its significance.

Their collective endeavor centers around augmenting awareness among local authorities in the UK and their communities regarding the pivotal role of steel packaging recycling in achieving sustainability goals. Moreover, they seek to shed light on the types of materials that can be included in recycling collections.

Ms. Nicola Jones, Tata's manager for steel packaging recycling, emphasized the influence of consumers' recycling habits on the quality of bales received for melting. By embracing correct recycling practices, such as placing the appropriate items in recycling bins, bale quality reaches optimal levels, thereby fostering higher rates of recycling.

Tata Steel is poised to showcase its comprehensive collection and recycling infrastructure to Larac's extensive network of 311 members spanning the United Kingdom. This collaboration will also extend support to the promotion of Metal Matters, a commendable communications program that empowers local authorities to educate households about the importance of metal packaging recycling.

voda 17 mei 2023 10:44

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Marcegaglia Aims for Decuple Turnover

Italian re-roller and steelmaker, Marcegaglia, has emerged as a formidable player in the global steel market, showcasing impressive financial results and an unwavering commitment to excellence. With revenue of €8.6 billion in 2022, the company's chairman, Mr. Antonio Marcegaglia, reveals a remarkable journey of growth, bolstered by a doubling of turnover over the past decade. In spite of a 6% decline in deliveries, largely attributable to the downturn in the global steel market, Marcegaglia has proven its ability to weather the storm by safeguarding margins, prioritizing quality over quantity.

Building on this success, the company sets its sights even higher, aiming for a turnover of €10 billion and an Ebitda of €1 billion. Moreover, Marcegaglia aspires to achieve admirable environmental and safety goals, striving for zero debt, zero carbon emissions, and zero casualties, reinforcing their commitment to sustainability and responsibility.

As part of its growth strategy, Marcegaglia has recently completed the acquisition of SIA Severstal Distribution, a Latvia-based company, from its Russian parent Severstal. This acquisition grants Marcegaglia full control over a service center in Riga, Latvia, along with two distribution subsidiaries in Poland and Ukraine, further expanding its global footprint and enhancing its operational capabilities.

Simultaneously, Marcegaglia eagerly awaits the final ruling from a Belgian commerce tribunal regarding the sale of Liberty Steel's three rolling mills in Belgium.

Marcegaglia, in collaboration with NLMK Europe, ArcelorMittal, and Liberty Galati, forms a consortium vying for the Flémalle site. However, due to technical reasons, the tribunal has temporarily suspended the process, intensifying the anticipation surrounding this significant development.

voda 17 mei 2023 10:44

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Beltrame Revives Crude Steelmaking at COS Targoviste in Romania

In a significant move that highlights their commitment to innovation and sustainable practices, Italy's Beltrame Group is breathing new life into the crude steelmaking industry at its Donalam plant in Romania, formerly known as COS Targoviste. The group's esteemed Chief Commercial Officer, Mr. Enrico Fornelli, confirmed this exciting development during the renowned Made in Steel tradeshow in Milan, shedding light on the group's ambitious plans for the future.

After acquiring the mill last year and successfully restarting rebar production in June, albeit with feedstock sourced from other branches of the group, Beltrame is now set to inaugurate its melt shop.

This critical facility will primarily rely on domestically sourced scrap, allowing the company to further consolidate its operations and enhance sustainability practices.

To achieve this vision, Beltrame has earmarked an impressive €100 million investment over the next five years to upgrade equipment at the Donalam plant, ensuring a reduced carbon footprint and aligning with global environmental standards.

voda 18 mei 2023 08:12

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Thailand Prolongs AD Duty on HR from China & Malaysia

By Strategic Research Institute on May 18, 2023 11:17 am

Thailand's Ministry of Commerce has announced its decision to extend the anti-dumping duty order on hot-rolled steel products from China and Malaysia for an additional five-year period. This ruling comes as a reversal of its earlier decision to revoke the imposition in March of this year.

Under this ruling, the AD duty rate stands at a significant 30.91% for steel imports from China, while Malaysian imports face duty rates ranging from 23.57% to 42.51%, all based on the CIF price.

It is worth noting that these duties were initially imposed in August 2011 and were intended to remain in effect for a period of five years. However, in June 2017, they were extended for another five-year term.

The products affected by this AD duty order are hot-rolled flat steel, both in coils and not in coils, with a specific thickness range of 0.9 to 100mm and a width spanning from 100 to 3,200mm.

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