Egyptian court rejects billet safeguard appeal

Spanish Market: Metals
16/07/19

A court in Egypt has overruled objections by the government to the overturning of steel billet import sanctions, meaning the 15pc duty cannot be charged.

The judge suspended the safeguards at the beginning of the month, but the government, backing integrated steelmakers, appealed this decision. Billet imports were still subject to the charge until the final decision was announced.

It is unclear whether the tariffs will be immediately lifted, which would allow cargoes to clear customs today without being subject to the tariffs, market participants said.

The Egyptian government's investigation into permanent safeguard duties is continuing and a decision is expected to be reached by October.

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21/11/24

US alleges Nippon dumped HRC at higher rates

Houston, 21 November (Argus) — The US government alleged that Japanese steelmaker Nippon Steel dumped hot-rolled (HR) flat steel products at higher rates than previously determined. The US Department of Commerce's International Trade Administration (ITA) determined that during the period from October 2022 through September 2023, Nippon sold HR steel flat products with a weighted-average dumping margin of 29.03pc, up from the 1.39pc dumping margin the ITA determined for the prior period of October 2021 through September 2022. Tokyo Steel Manufacturing, which was also investigated, was determined to have not sold HR flat steel below market value, unchanged from a prior review. US imports during the period from October 2022 through September 2023 of the investigated items from Japan were 202,000 metric tonnes (t), down from the 293,600t imported in the same period the prior year, according to customs data. The original investigation into imports of Japanese flat-steel products was concluded in 2016. The ITA is now reviewing the time period of October 2023 through September 2024 and expects to issue the final results of these reviews no later than 31 October 2025. The US imported 235,700t of the investigated products from Japan during that time, customs data showed. By Rye Druzchetta Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Recent deep-sea and short-sea cfr Turkey scrap deals

21/11/24

Recent deep-sea and short-sea cfr Turkey scrap deals

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Japan’s crude steel output drops further in October

21/11/24

Japan’s crude steel output drops further in October

Tokyo, 21 November (Argus) — Japan's crude steel production in October fell on the year for an eighth straight month, partly because of lower steel demand from the construction sector. The country produced 6.9mn t of crude steel in October, down by 7.8pc from a year earlier, according to preliminary data released by industry group the Japan Iron and Steel Federation (JISF) on 21 November. Crude steel production by basic oxygen furnace (BOF) fell by 6.8pc on the year to 5.1mn t, marking the eighth consecutive month of year-on-year fall. Crude steel output by electric arc furnace (EAF) declined for a third straight month by 10.5pc to 1.8mn t. A double-digit output fall by EAF is partly reflecting the weaker steel demand in the construction sector. The country's steel demand is heavily dependent on the automobile and construction sectors, and steel products for each industry are generally produced using the BOF and EAF methods respectively. Booked orders of ordinary steel for construction use in September fell by 11.3pc on the year to 651,035t, marking the fourth consecutive month of year-on-year decline, according to the separate data released by JISF on 18 November. The country's major steel producer JFE on 6 November revised downward its crude steel output to 22.4mn t for the current fiscal year ending 31 March 2025. This is 600,000t lower than its initial figure announced in August, partly owing to weaker than anticipated steel demand from the construction sector, according to the steel company. Rising material costs and labour shortages are causing delays in major construction projects, JFE said, adding that lower steel demand in the construction industry is "becoming even more obvious.". By Yusuke Maekawa Japanese ferrous output ('000't) Oct '24 Sep '24 Oct '23 m-o-m ± % y-o-y ± % Crude steel production Ordinary steel 5,328 5,098 5,792 4.5 -8.0 Specialty steel 1,597 1,525 1,719 4.7 -7.1 Total crude production 6,925 6,623 7,511 4.6 -7.8 Crude steel production method Basic oxygen furnace 5,101 4,794 5,473 6.4 -6.8 Electric arc furnace 1,824 1,829 2,038 -0.3 -10.5 Pig iron production 5,075 4,802 5,405 5.7 -6.1 Source: Japan Iron and Steel federation *Based on preliminary data Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

ArcelorMittal could close two service centres in France

20/11/24

ArcelorMittal could close two service centres in France

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Graphjet launches Malaysian biomass-to-graphite plant

20/11/24

Graphjet launches Malaysian biomass-to-graphite plant

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