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Home  /  Forum  /  Arcelor Mittal  /  Nieuws en info hier plaatsen (deel 4)

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Aandeel ArcelorMittal AEX:MT.NL, LU1598757687

  • 21,820 14 jun 2024 17:36
  • -0,380 (-1,71%) Dagrange 21,740 - 22,360
  • 4.153.452 Gem. (3M) 2,7M

Nieuws en info hier plaatsen (deel 4)

35.173 Posts
Pagina: «« 1 ... 338 339 340 341 342 ... 1759 »» | Laatste | Omlaag ↓
  1. forum rang 10 voda 22 december 2015 16:48
    Baosteel keep steel product prices for Jan unchanged

    Reuters reported that Baoshan Iron & Steel, China's biggest listed steelmaker, will keep its main steel product prices unchanged for January from the previous month

    The company's pricing moves usually reflect the tone for China's steel industry.

    Source : Reuters
    Bijlage:
  2. forum rang 10 voda 22 december 2015 16:49
    SIMA wants rational implementation of minimum import price

    Economic Timnes reported that India’s secondary steel sector is apprehensive about the government's proposed move to impose minimum import price for steel. Mr Prakash Tatia chairman of Sponge Iron Manufacturers' Association said “While MIP is a good move, we would urge the government to implement it in a rational manner that should not harm the secondary steel sector.”

    He said “To ensure the survival of some 2,000 secondary units which are in operation, government should ensure that iron ore and coal is available on affordable and consistent basis. There should also be a pricing mechanism for these raw materials based on export parity.”

    He said “Some of the secondary units like, slab re-rollers for instance, use continuously cast slabs, not readily available in the country. Currently, slabs worldwide are available at a very reasonable price range between USS 220 -250 FOB. These units depend on imports and if a MIP higher that the current import price is imposed on slabs it will deal a vital blow to their raw material costs.”

    Incidentally import of slabs accounted for 3 lakh tonne out of India's over-9 million tonnes of steel imports last year.

    Another section of the steel user industry expected to be affected if the MIP is not imposed rationally are those who use it for critical applications. These special steels have to be necessarily imported and include clad steel, special grade boiler steel, API high-grade steel for high pressure applications and higher width/thickness requirements as well as special auto grade steel.

    While domestic steel industry has overall capacity of 105 million tonne, with a crude steel output of close to 91 million tonnes, around 54% of capacity is in the secondary steel sector, Tier-ll and local steel units. Against installed capacity of 50 million tonnes, domestic sponge iron production has been only around 18 million tonnes with capacity utilisation of only 35% in the last 2-3 years.

    Source : Economic Times
  3. forum rang 10 voda 22 december 2015 16:50
    Greybull Capital favourite to buy Tata Steel UK unit - Report

    Reuters reported that investment firm Greybull Capital has emerged as a favourite to buy Tata Steel's struggling UK based unit. Two industry sources told Reuters that Greybull, which last year rescued British holidays and airline company Monarch, is favourite to buy the unit, and that Tata Steel will make a decision in January at the latest.

    The sources said there were two more parties interested, one of which was private equity firm Endless. Final bids went in around two weeks ago, one of the people said, cautioning that no deal was certain.

    Tata Steel has been trying to sell the struggling long product unit since last year, but was dealt a blow in August when Klesch Group, a global commodities producer and trader, publicly withdrew its interest, laying the blame on the British government.

    Tata Steel said in October it could axe about 1,200 jobs at its long products unit, which employs some 6,500 people across Europe with the majority based in Scunthorpe, northeast England.

    Source : Reuters
  4. forum rang 10 voda 22 december 2015 16:51
    America steel consumption dips 3% YoY in 10 months

    Latin American steel association Alacero announced that the figures for the first 10 months of 2015 show a 3% decrease in the finished steel consumption of Latin America. Also, regional crude steel production fell 2% and rolled steel, 4% YoY. Already 35% of the regional consumption is being supplied by imports, while share of imports in local markets continues to advance. The trade balance of the region remains negative, although in the first ten months of 2015 the deficit in tons decreased 3.6% versus the same period of 2014.

    Source : Strategic Research Institute
  5. forum rang 10 voda 22 december 2015 16:53
    US Steel postpones construction of EAF at Fairfield Works in Alabama on weak market conditions

    United States Steel Corporation announced that it will postpone construction of its Electric Arc Furnace at its Fairfield Works in Birmingham, Ala., due to continued challenging market conditions in both the oil and gas and steel industries.

    Source : Strategic Research Institute
  6. forum rang 10 voda 22 december 2015 16:54
    Global crude steel production in November dips by 4.1% YoY

    World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 127 million tonnes (Mt) in November 2015, a -4.1% decrease compared to November 2014.

    Source : Strategic Research Institute
    Bijlage:
  7. forum rang 10 voda 22 december 2015 17:00
    Extent of Sanarco catastrophic extent becomes clear as iron ore mine spill reaches ocean

    Orlando Sentinel reported that since millions of gallons of mining waste burst from an inland iron ore mine a month ago, 300 miles of the Rio Doce stretching to the Atlantic Ocean has turned a Martian shade of bright orange, and the deadly consequences for residents and wildlife are just beginning to emerge.

    Several days ago, the toxic sludge, which continues to spew from the mining site, reached the Atlantic Ocean in the city of Linhares north of Rio de Janeiro, as workers undertake a series of emergency projects to mitigate the damage along the river and into the Atlantic.

    Experts say diseases related to water supply issues will likely result in deaths of riverside residents. Authorities, meanwhile, struggle to learn what other types of toxic material have spewed from the broken dam. So far, they know that the mud contains extremely high levels of iron and manganese; dangerous levels of arsenic have also been detected.

    Metallic dust from the river is also likely to form, creating airborne safety risks.

    Professor Carlos Machado, a researcher who studies natural disasters at the Oswaldo Cruz Foundation in Rio de Janeiro said "This is a permanent blow. The cost is irreparable. A lot of life forms are never coming back. There's no telling how many more might die from long-term public health problems generated by the disaster, he said. "A lot of attention has been paid to those directly affected by the spill. But the risks are much larger than that, and they will last a long time. "

    Machado estimates that the surviving ecosystem could take anywhere from 10 to 50 years to regenerate — and what comes back would be different.

    The dam near the inland city of Mariana that broke on Nov. 5 is operated by Samarco, a mining company owned by Brazilian mining giant Vale and Anglo-Australian mining giant BHP Billiton. When the barrier burst, for unknown reasons, more than 60 million cubic meters of waste began flooding nearby communities and wound up in the Rio Doce.

    Source : Orlando Sentinel
    Bijlage:
  8. forum rang 10 voda 22 december 2015 17:02
    Tata Steel iron ore mines wins 37 prizes at 53rd Annual Mines Safety Week

    Avenue Mail reported that Tata Steel bagged 37 prizes for its iron ore mines in various categories in the 53rd Annual Mines Safety Week Celebration 2015 of Chaibasa region, which concluded in Noamundi on December 20, 2015.

    Noamundi Iron Mine won 12 prizes including the 1st prize in the Overall Performance category, followed by 9 prizes by Khondbond Iron Mine and 8 prizes each by Joda East Iron Mine and Katamati Iron Mine. Katamati Iron Mine also won the 1st prize in the Overall Performance category.

    Mr Rajeev Singhal, Vice President (Raw Materials), Tata Steel congratulated all the mines of Tata Steel that won the prizes. He said: “Safety has been recognized as the most important parameter for Tata Steel to demonstrate commitment to the people and community at large. Safety is an integral part of decision making in Tata Steel and acts as a prime consideration factor in all sphere of activities. Due to consistent efforts of Directorate General of Mines Safety for putting up systems, processes, guidelines and standards; “Safety First” has become a deep routed value of Mining Industry.”

    Mr MC Thomas, General Manager (Ore Mines & Quarries), Tata Steel said: “All these prizes won by Tata Steel is a testimony of our focus towards safety in mining operations. The efforts put in in the past years by the mining fraternity in learning from each other and sharing best practices has contributed to improvement in our safety performance. We will continue to work with other miners to achieve higher standards of safety in Chaibasa region.”

    The Annual Mines Safety Week is celebrated by all the mines operating in Chaibasa region under the aegis of Directorate General of Mines Safety (DGMS), Ministry of Labour & Employment, and Government of India to propagate the message of safety at the workplace and inculcate safe mining practices amongst the mine workers.

    Source : Avenue Mail
  9. forum rang 10 voda 22 december 2015 17:04
    No proposal for revision of export policy on iron ore - Ms Nirmala Sitharaman

    Press Trust of India reported Indian Parliament was informed that that there is no proposal before the government for revising export duty on iron ore

    Commerce Minister Ms Nirmala Sitharaman said in a written reply to Lok Sabha said “Certain grades of iron ore are already regulated as per Foreign Trade Policy 2015-20. Besides, the differential duty has been imposed on various grades of iron ore to regulate the exports. Most of the measures are already in place to regulate exports of iron ore to meet domestic requirements.”

    She said "At present, there is no proposal for revision of export policy of iron ore.”

    Goa's mining industry has been urging the government to remove the 10 per cent export duty on iron ore shipped from the state. There is 10 per cent export duty on shipment of iron ore with iron content less than 58 per cent.

    Source : Press Trust of India
  10. forum rang 10 voda 22 december 2015 17:05
    Mining operations normal despite asset freeze - Vale

    Reuters reported that Brazilian mining company Vale SA said on Monday its mining operations were continuing as normal and it still had not been notified of a court ruling on Friday to block the transfer or sale of mining rights after a deadly dam burst last month.

    On Sunday, Vale, the world's largest producer of iron ore, said in a statement it was aware of the court decision and will appeal when it is officially notified.

    The ruling, according to Vale, bans it from transferring or selling mining rights, but does not effect production.

    The judge ruled that Samarco, a joint venture between Vale and BHP Billiton which operated the mine where the dam breach occurred, did not have the funds to pay for the 20 billion reais ($5.03 billion) sought by the government in damages. The owners must consequently share responsibility for the accident.

    BHP said on Monday it had also not been notified of the decision.

    The decision is available on the court's online database but the companies do not have to abide by the ruling until they are officially notified.

    The dam burst, which turned into Brazil's worst ever environmental disaster, killed 16 people, left hundreds homeless and polluted a river 800 km (500 miles) long that flows across two states.

    Source : Reuters

  11. forum rang 10 voda 23 december 2015 15:53
    Mechel moves step closer to debt restructuring with Sberbank

    Reuters reported that indebted Russian coal and steel producer Mechel has moved a step closer to a debt restructuring deal with a key lender as its coal subsidiary Southern Kuzbass reached a settlement agreement with Sberbank

    Mechel's spokeswoman Ekaterina Videman told Reuters “This is the first step as part of the agreement reached to implement the conditions of Mechel's debt restructuring with Sberbank.”

    In the future, the two sides should reach agreements on restructuring other debts of the group and fulfil certain conditions, Mechel added.

    Mechel, controlled by businessman Igor Zyuzin, had to delay its debt repayments after a decline in coal and steel prices halted its strategy of borrowing heavily to finance investments.

    Sberbank is the last large Russian creditor of Mechel with which the miner is yet to agree restructuring terms. Mechel has said a final agreement could be reached by early March.

    Source : Reuters
  12. forum rang 10 voda 23 december 2015 15:54
    Uttam Galva Metallics and POSCO ink deal for FINEX technology at Wardha unit

    Business Standard reported that Uttam Galva Metallics and POSCO have signed a Memorandum of Agreementto deploy technologies of the latter at the company's Wardha plant in Maharashtra.

    In a release, Uttam Galva Metallics said POSCO's fine ore reduction process — an alternative iron making technology using iron ore fines (FINEX) and compact endless casting and rolling mill — a process to replace large portion among the cold-rolled products with thin hot rolled products' technologies will be used for its 1.5 million tonne plant in Wardha.

    The plant is scheduled to be operational by April 2019.

    Mr Ankit Miglani, director at Uttam Galva, said “I am glad to announce that we will be installing two new state-of-the art technologies and processes from POSCO at Uttam Galva Metallics' Wardha unit, which will increase efficiencies at the plant. This collaboration with POSCO will help create a new direct to customer interface by replacing several cold rolled products with HR thin gauge products. This also reiterates POSCO's continuing interest in investing in India and its commitment to be a long term partner with the Uttam Group,"

    POSCO's technologies for the Wardha plant will also form its equity investment in Uttam Galva Metallics.

    Apart from the Wardha plant, Shree Uttam Steel and Power, one of the unlisted arms of Miglani family-run Uttam Galva Group is carrying out a feasibility study for its $3-billion integrated steel plant in Maharashtra, jointly planned with South Korean company Posco, which is expected to be completed by February next year. This plant will be producing hot-rolled coils targeted to cater to the domestic market.

    Source : Business Standard
  13. forum rang 10 voda 23 december 2015 15:55
    Governent steps have failed to curb steel dumping into India - Mr Sajjan Jindal

    Mr Sajjan Jindal, chairman and managing director of JSW group, gave a glimpse of the group’s future to Ishita Ayan Dutt and Dev Chatterjee of Business Standard.

    Edited excerpts:

    Q - What is motivating you to expand organically and inorganically when the steel sector is in the doldrums?

    A - India is one of the few countries growing at seven per cent. If we have to leverage domestic demand and a large young population, it is imperative for India to accelerate growth. The JSW group has been looking at counter-cyclical investments, notwithstanding the current subdued economic conditions, keeping in view the long-term potential of the Indian economy.

    Q - You took over Jaypee’s hydro projects in 2015 and are in talks to take over its cement units. Won’t the JSW group fall into a debt trap with the spate of acquisitions?

    A - The group is engaged in the core sectors viz steel, power, ports and cement. It has been evaluating opportunities in India in these verticals. The group firms are profitable in spite of the stress in those sectors. However, no acquisition or expansion will be taken up unless they are value accretive and contribute to the bottom line. I do not find any constraints in funding good acquisitions or expansions.

    Q - The Indian steel industry is reeling under cheap imports from China, Japan and South Korea. A safeguard duty and import duty hike is in place, but is it enough?

    A - The global steel industry is plagued with huge surplus capacities owing to severe contraction in China followed by the commodity crisis. The export-dependent countries — China, Japan, South Korea and Russia — are dumping steel at unfair prices and the imports into India grew 71 per cent and 34 per cent, respectively, in 2014-15 and 2015-16 (so far). The industry welcomes the steps taken by the government in imposing provisional safeguard duty on certain grades of hot-rolled coils and increasing tariffs on steel products. The steps initiated by the government did not give relief to the industry as these countries are desperate to export steel at any price. Even though the Indian steel industry is the second most competitive in the world, the strategy of distress exports by these countries is hurting it. Hence, the industry asked the government to initiate a package of measures to stall unfair steel imports into the country.

    Q - Are you happy with the pace of economic reforms of the Narendra Modi government?

    A - The government has taken a slew of reforms, which are directionally on the right track. We all want to accelerate the pace of reforms, particularly in areas of land, labour and ease of doing business. It is appreciable the government is sincere in its intention to bring transformational changes for a sustainable industrial development.

    Q - Why has JSW avoided expanding abroad in an aggressive way? Do you think India Inc erred in its overseas expansion?

    A - Many of the Indian groups have made acquisitions in the past at the top end of the valuation cycle. The global financial crisis in 2008 dramatically altered the prospects of several economies and consequently, the experience of many Indian groups, including JSW, in overseas acquisitions is not good. Simultaneously, the potential of India throws several opportunities and with a series of reforms currently being envisaged, it is prudent to focus on India rather than venturing into the overseas market. At the same time, thanks to its inherent competitive advantages, India can become a global hub for supply of manufactured products to the world in line with ‘Make in India’.

    Q - Where is the group headed in the long run? Do you see it as a dominant steel making group or is there any other venture in the group which could become equally big?

    A - JSW Energy is more profitable than JSW Steel as on date. We continue to grow all our businesses simultaneously evaluating new-age consumption-focused ventures.

    Q - What is the future of greenfield projects in India?

    A - Several Indian steel companies are figuring in the list of 36 world-class steel companies, which is a reflection of Indian steel industry’s competitiveness. As India is blessed with natural resources like iron ore and coking coal and with the amendment to the Mines and Mineral Development and Regulation (Amendment) Act for allocation of mineral resources through a transparent auction process, India has the potential to create steel production capacities not only to support our growing infrastructure needs, but also to be a global supplier of steel at competitive prices. JSW Steel is currently working to enhance its capacity through its brownfield expansion first and then focus on greenfield projects to achieve its vision of 40 million tonnes a year capacity.

    Q - There are many stressed assets on the block such as Electrosteel and VISA Steel. Do they interest you? Would it make sense for JSW to enter into a strategic partnership with Essar Steel?

    A - I do not like to comment on any specific company, but JSW Steel is an independently board-managed company and continues to evaluate various options including inorganic growth.

    Source : Business Standard
  14. forum rang 10 voda 23 december 2015 15:56
    Greybull Capital confirms talks with Tata Steel UK

    Reuters had reported on Monday that Greybull had emerged as the favourite in the sale process. One source said the deal was probably worth less than 500 million pounds, and that the buyer was not likely to take on any debt.

    A statement from Greybull today said: “Greybull Capital LLP confirms that it has signed a Letter of Intent with Tata Steel to enter exclusive discussions on the possible acquisition of the Long Products Europe business based in Scunthorpe, North Lincolnshire. Whilst this is an important milestone, much work remains to be done to reach a successful outcome.”

    TATA Steel has been trying to sell its long products unit, which makes steel used in construction, since last year - with increasing urgency as a global steel crisis intensified and prices hit decade lows. Mr Karl Koehler, Chief Executive of Tata Steel's European operations, said “This is an extremely critical time for the whole industry, and we have been working hard to explore all options that could provide a future for the Long Products Europe business.”

    In October Tata Steel said it could axe about 1,200 jobs at its long products unit, which is based in Scunthorpe, northeast England and employs some 4,700 people across Europe.

    Source : Scunthorpe Telegraph
  15. forum rang 10 voda 23 december 2015 15:59
    Global crude steel production in November dips by 4.1% YoY

    World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 127 million tonnes (Mt) in November 2015, a -4.1% decrease compared to November 2014.

    China’s crude steel production for November 2015 was 63.3 Mt, down by -1.6% compared to November 2014. Japan produced 8.7 Mt of crude steel in November 2015, a decrease of -4.7% compared to the same month in 2014.

    In the EU, Germany produced 3.5 Mt of crude steel in November 2015, a decrease of -3.1% compared to November 2014. Italy’s crude steel production was 1.9 Mt, up by 0.4% on November 2014. Spain produced 1.2 Mt of crude steel in November 2015, down by -2.9% compared to November 2014. France’s production for November 2015 was 1.2 Mt, a decrease of -14.7% compared to the same month in 2014.

    Turkey’s crude steel production for November 2015 was 2.6 Mt, down by -7.2% on November 2014.

    In November 2015, Russia produced 5.7 Mt of crude steel, down by -3.1% over November 2014. Ukraine produced 1.9 Mt of crude steel, up by 3.1% compared to the same month in 2014.

    The US produced 6.1 Mt of crude steel in November 2015, down by -15.6% compared to November 2014.

    Brazil’s crude steel production for November 2015 was 2.5 Mt, a decrease of -4.4% on November 2014.

    The crude steel capacity utilisation ratio for the 66 countries in November 2015 was 66.9%. This is -4.0 percentage points lower than November 2014. Compared to October 2015, it is -1.4 percentage point lower.

    Source : Strategic Research Institute
  16. forum rang 10 voda 23 december 2015 16:00
    EBRD funding USD 20 million in EAF dust recycling plant in Turkey

    Energy Live News reported that a steel dust recycling company in Turkey is receiving USD 20 million to double the capacity of its plant. The European Bank for Reconstruction and Development (EBRD) is providing the money to boost industrial waste recycling in the country.

    The Befesa Silvermet Iskenderum plant transforms electric arc furnace into zinc.

    The EBRD’s financing supports a solution for recycling zinc from steel dust instead of producing it from natural resources.

    It also helps reduce the amount of hazardous waste sent to landfill.

    Turkey is the eighth-largest steel producer in the world and the fifth-largest producer of electric arc furnace dust, according to the EBRD.

    Mr Frederic Lucenet, EBRD Director for Manufacturing and Services, said: “The Iskenderun plant has the potential to become a showcase for exporting the company’s recycling model to other steel-making countries where the EBRD invests.”

    Source : Energy Live News
  17. forum rang 10 voda 23 december 2015 16:04
    BHP Billiton hires Cleary Gottlieb Steen & Hamilton to probe Samarco dam tragedy

    BD Live reported that a US law firm is to investigate the cause of the deadly mudslide at BHP Billiton and Vale’s Samarco iron ore mine in Brazil. Seventeen people died, with another two people still unaccounted for, as a result of the November 5 breach of the tailings dam and another dam at the mine in Minas Gerais.

    BHP said on Tuesday that New York-based law firm Cleary Gottlieb Steen & Hamilton would draw on expertise in disciplines such as geotechnical engineering and hydrology.

    It said "BHP Billiton has committed to release publicly the findings of the external investigation, and to sharing the results with other resources companies. It was working with government authorities in Brazil to relocate displaced people from temporary accommodation to rented housing, and to distribute living-wage debit cards to those affected.

    BHP has also appointed a country director to represent the group in Brazil. It said Flávio Bulcão, who has extensive experience in the metals and mining industry, will report to the chief commercial officer, Dean Dalla Valle, who has assumed day-to-day responsibility at a group management committee level for BHP Billiton’s response to the Samarco dam breach.

    The Samarco operation is jointly owned by global resources group BHP Billiton and Brazilian resources giant Vale. Brazilian authorities are seeking $5.2bn (about R78bn) for clean-up costs and damages from Samarco. A federal court ordered the mine on December 18 to deposit 10% of this amount into a court-managed bank account within 30 days to pay for "the community and environmental rehabilitation".

    The court imposed a restriction in relation to dealings in existing mining exploration concessions held by Samarco, BHP Billiton Brazil and Vale in Brazil such that those concessions cannot be transferred or sold by the current holder of the concession. The court also ordered Samarco, Vale and BHP Billiton Brazil to undertake certain remediation actions within specified time frames. These remediation actions include preventing leakage of waste from the Fundão tailings dam, engaging a consultant to evaluate contamination of fish and implement pest control, removal of mud from the Rio Doce banks, adoption of measures to prevent sludge from reaching the lagoon, and presentation of a comprehensive plan for environmental recovery and socioeconomic recovery.

    Source : BD Live
    Bijlage:
  18. forum rang 10 voda 23 december 2015 16:05
    Australia cuts 2016 forecast by 19% as glut grows

    Bloomberg reported that the world’s biggest iron ore exporter, Austalia, has cut its price forecast for next year by 19 percent as supply continues to swell and slowing growth in China hurts demand in the biggest user.

    Australia’s Department of Industry, Innovation & Science said in aquarterly outlook Tuesday said “Prices will average USD 41.30 a metric ton in 2016 compared with USD 51.20 forecast in September,. The department cut its average price for 2015 by 4.7 percent to USD 50.40 a ton.”

    Price projections by the department refer to spot ore with 62 percent content free-on-board Australia. The raw material delivered to Qingdao, China, advanced 0.9 percent to $40.46 a dry ton on Monday, according to Metal Bulletin Ltd. Iron ore bottomed at $38.30 on Dec. 11, a record in daily prices dating back to May 2009.

    It said ““Increasing supply from Australia and Brazil is forecast to drive seaborne iron ore spot prices down in 2015 and 2016”

    It added “Overcapacity in China’s steel industry is expected to exert downward pressure on steel prices and reduce the incentive to increase output.”

    Cargoes from Australia will probably climb to 868 million tons next year from 767 million tons in 2015, the department said. The increase shows that miners in Australia will build market share in China as the country’s demand for iron ore imports expands at a slower pace and smaller rivals quit, according to the government.

    Source : Bloomberg
  19. forum rang 10 voda 23 december 2015 16:13
    US DOC slaps anti dumping duty on Corrosion Resistant Steels imports

    On December 22, 2015, the US Department of Commerce announced its affirmative preliminary determinations in the antidumping duty investigations of imports of corrosion-resistant steel products from China, India, Italy, and Korea, and its negative preliminary determination in the AD investigation of imports of corrosion-resistant steel products from Taiwan.

    In the China investigation, the mandatory respondent, (China) Technomaterial Co Ltd, as well as the two parties which qualified for separate rates, all received a preliminary dumping margin of 255.80 percent. All other producers/exporters in China received the China-wide rate of 255.80 percent.

    In the India investigation, mandatory respondents JSW Steel Ltd, and Uttam Galva Steels Limited received preliminary dumping margins of 6.64 percent and 6.92 percent, respectively. All other producers/exporters in India received a preliminary dumping margin of 6.76 percent.

    In the Italy investigation, mandatory respondents Acciaieria Arvedi S.p.A. and Marcegaglia S.p.A. received preliminary dumping margins of 3.11 percent and 0.00 percent, respectively. All other producers/exporters in Italy received a preliminary dumping margin of 3.11 percent.

    In the Korea investigation, mandatory respondents Dongkuk Steel Mill Co Ltd, Union Steel Manufacturing Co Ltd and Hyundai Steel Company received preliminary dumping margins of 2.99 percent and 3.51 percent, respectively. All other producers/exporters in Korea received a preliminary dumping margin of 3.25 percent.

    In the Taiwan investigation, mandatory respondents Yieh Phui Enterprise Co Ltd. and Prosperity Tieh Enterprise Co Ltd received preliminary dumping margins of 0.00 percent. Commerce did not calculate a preliminary dumping margin for all other producers/exporters in Taiwan because it has not made an affirmative preliminary determination.

    As a result of the preliminary affirmative determinations, Commerce will instruct US Customs and Border Protection (CBP) to require cash deposits based on these preliminary rates.

    US producers including Nucor, US Steel Corp and Steel Dynamics Inc had filed cases in June alleging that some products from China, India, Italy, South Korea and Taiwan had been dumped in the US, harming domestic companies.

    In November, the government found that all those countries, except Taiwan, subsidized their domestic production by as much as 236 percent of its price. Tuesday’s tariffs, combined with countervailing duties as high as 236 percent announced on November 3, create a barrier to imports of these steel products from China

    Source : Strategic Research Institute
  20. forum rang 10 voda 24 december 2015 13:35
    South Africa imposes 10% tax on import of steel

    Creamer Media reported that South Africa has instituted rates on five categories of steel wire rod and steel reinforcing bar, increasing protection for an industry battered by slower demand and dumping from China and effective December 18, certain steel products would attract a 10% duty.

    This was the second of the 11 tariff applications that ArcelorMittal South Africa has applied for to the International Trade Administration Commission of South Africa. AMSA has asked Itac to assess the case for raising duties to the 10% bound levels allowed for under South Africa’s World Trade Organisation commitments.

    AMSA has argued noisily for increased protection on the basis that it is unable to compete with cheap, subsidised steel imports from China. It estimates that imports made up to 30% of domestic consumption during the first half of 2015.

    Trade and Industry Minister Dr Rob Davies has previously stated that government would back greater protection for the industry, which was facing intense import competition as a result of the current global steel glut. However, government would insist that such protection not form the basis for an immediate 10% rise in domestic steel prices. Instead, the protection should create room for the local industry to win back market share from imports.

    Source : Engineering News
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