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A quick look at how China's economy and steel market performed in the first half of 2020.
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South Korean and Japanese steel producers are currently not offering cargoes in the Indian market due to low demand and anti-dumping duties.
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The U.S. Commerce Department had issued a final anti-dumping ruling against imports of stainless steel rods from India claiming that the Indian producers and exporters had sold the stainless steel rods below the normal rates in the U.S during the period under review 1 Feb’17 to 31 Jan’18. But the final duty announced by the U.S. is lesser against the preliminary duties imposed in the month of April this year.
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As per the latest updates, India has started a sunset review of its anti-dumping duties on flat hot-rolled stainless steel products from China, Malaysia and South Korea.
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China is imposing anti-dumping duties of between 18.1% and 103.1% on imports of stainless billets and hot-rolled stainless plate and coil from Indonesia, the European Union, Japan and South Korea, the Ministry of Commerce (MoC) announced on July 22. The penalties take effect from Tuesday, July 23, and will be effective for five years, the MoC said.
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China’s economy and financial system will be able to withstand the impact of the ever-escalating Sino-US trade friction, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC) confidently predicted on May 28 during an exclusive interview with Xinhua News Agency and People’s Daily.
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Many countries have stepped up their vigilance of Chinese steel imports of late, and so far in April, countries including Malaysia, Egypt, India and Mexico have all launched AD or safeguard probes on exports of China's finished steel, affecting both long and flat, carbon or stainless, Mysteel Global noted.
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China’s decision to impose provisional duties on stainless billets and stainless hot-rolled flat products is expected to ease the pressure of oversupply in domestic stainless market in the coming term, a market source observed on March 25.
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China’s Ministry of Commerce announced on March 22 to impose provisional duties on stainless slabs and billets, and stainless hot-rolled flat products from the origins including the European Union, Japan, South Korea and Indonesia.
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The European Commission’s definitive safeguard measures on imports of steel products which took effect from February 2 are unlikely to hurt China’s steel exports, according to Chinese market sources Wednesday.
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The Japanese government has asked
the World
Trade Organization (WTO) to set up a dispute settlement panel to adjudicate on
its quarrel with South Korea over Seoul’s imposition of antidumping duties on
Japan-origin stainless steel bars 14 years ago that has remained in place today.
“Japan considers (South Korea’s) decision to extend the
antidumping duties to
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India has decided to initiate an anti-subsidy investigation into imports of welded stainless pipes and tubes produced or exported from China and Vietnam. However, the impact of the potential duties on China’s stainless market remains unclear as the final determination about levying anti-subsidy duties has not been made, a Chinese market source said.
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China's Ministry of Commerce (MoC) is launching a preliminary antidumping investigation into imports of stainless steel semis (slabs and billets) and hot-rolled stainless coil and plate from Indonesia, the European Union, Japan and South Korea, according to an official notice posted on its website Monday.
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The US Department of Commerce's final affirmative ruling announced last week on corrosion-resistant steel (CORE) and certain cold-rolled flat products imported from Vietnam - which slaps hefty penalties on these for their incorporation of hot rolled and cold rolled coil substrate originating in China - is being brushed aside by Chinese industry insiders.
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Australia's Anti-Dumping Commission has initiated an anti-dumping and countervailing investigation on certain railway wheels imported from China, according to an announcement on its official website released on April 18.
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Taiwan has decided to initiate anti-dumping and countervailing duty investigations into steel imports from China including stainless hot-rolled steel products and specific carbon cold-rolled steel products, according to a post released by the Ministry of Finance (MoF) in Taipei on April 17.
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China will impose 25% tariffs on $50 billion worth of imported goods from the US such as aircraft, China's Ministry of Commerce (MoC) announced late on April 4. The move was Beijing's response to the announcement of the United States Trade Representative (USTR) the previous day that Washington intends to apply tariffs of 25% to some 1,300 Chinese industrial products.
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China's Ministry of Commerce (MoC) Monday expressed concern at the decision of the European Commission to launch an investigation to determine whether safeguard measures need to be applied to protect the community's steelmakers from an increase in imports as a consequence of Washington's 25% tariff.
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The United States International Trade Commission (USITC) announced on March 19 it was terminating its investigation of antitrust claims against China-origin steel products, a decision which delighted the Chinese side having successfully argued all three claims in the Section 337 probe.
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China's February finished steel exports rebounded by 197,000 tonnes or 4.2% month on month to 4.85 million tonnes, according to the latest statistics released by China's General Administration of Customs on March 8.
