• Skip to main content

    Overseas

    November 17, 2013

    OAO Severstal Sees World Steel Prices as Having Bottomed

    Written by Sandy Williams

    Global steel prices may have finally bottomed out, said Severstal CFO Alexey Kulichenko.  Severstal sees a slow recovery in store for 2014 with steel prices similar to those in 2013.

    “We don’t really believe there is more room for going down, so we think on average maybe we have reached the bottom,” said Kulichenko said in an interview on Thursday. “With overcapacity in place, and with the behaviour that we observe, we don’t believe there will be quick sustainable growth in the short term. We think it will be a slow, gradual movement from this level up.”

    Sandy Williams

    Read more from Sandy Williams

    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%.

    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).