Overseas
March 4, 2013
Europe Continues to Drag down Global PMI
Written by Sandy Williams
Written by: Sandy Williams
The JP Morgan Global Manufacturing PMI slipped to 50.8 from 51.4 in January indicating a slowing in manufacturing.
Latest in Overseas
Commerce amends duties on pipe and tube imports
The US Department of Commerce recently made adjustments to the anti-dumping duties (AD) on certain steel pipe and tube imports after annual administrative reviews, according to notices in the Federal Register. Commerce reviewed the AD order on imports of oil country tubular goods (OCTG) from Mexico and lowered the dumping rate for one company. Tubos de Acero de Mexico received a 1.87% dumping rate for the year ended Oct. 31, 2024. The rate is down notably from 26.1% in the previous year. The all-others cash deposit rate remains set at 44.93%.
US tweaks import duties on Korean plate
After an annual administrative review, the US Department of Commerce is adjusting the countervailing duties (CVDs) on imports of cut-to-length carbon-quality steel plate from South Korea. For the 2024 calendar year, Commerce set CVDs of 1.89% for Dongkuk Steel Mill and 1.39% for Hyundai Steel, according to a Federal Register announcement. The rates have changed slightly from the prior year review: Dongkuk's is down from 2.21% and Hyundai's is up from 1.31%. The cash deposit rate for all other companies remains 3.26%.
Commerce sets sizable initial margins in OCTG dumping case
The US Department of Commerce has determined sizable dumping rates against Austria, Taiwan, and the United Arab Emirates in the trade case investigating imports of oil country tubular goods (OCTG). Recall the dumping investigations and a companion subsidy investigation were launched in April at the request of the US OCTG Manufacturers Association (USOMA), U.S. Steel, and the United Steelworkers.
Price on Trade: Steel’s zero-sum game
During the first three quarters of 2026, finished steel imports from South Korea increased 50.8% compared with the same period in 2025. Imports from Vietnam increased 23.4%, imports from Turkey increased 49.5%, and imports from India increased 29.5%. Those are not marginal increases. They are substantial import surges, especially in a US market where apparent domestic consumption has bounced around but has not grown since 2017. More importantly, these import surges are arriving at lower average unit values (AUVs).
Commerce to hike AD duty on Taiwanese coated steels
Commerce is amending the anti-dumping duties on corrosion-resistant steel products from Taiwan. The agency is currently conducting an annual administrative review of the AD order. It is considering the year ended June 30, 2024. In its preliminary results, Commerce set weighted-average dumping margins of 3.54% for Prosperity Tieh Enterprises, 20.73% for Sheng Yu Steel Co., and 5.92% for Great Grandeul Steel Co. (Samoa).