Final Thoughts
Final Thoughts
Written by John Packard
June 24, 2016
We were a little surprised on Friday when the International Trade Commission (ITC) announced they had reached a unanimous decision on the CORE (corrosion resistant) trade case. This one is important because the first ITC ruling on cold rolled from Japan and China was a slam dunk. Neither country chose to defend themselves and basically gave in to the US Department of Commerce/ITC.
With the CORE case there were challenges by most of the named countries, yet all of the commissioners were able to use the new injury guidelines and find that the U.S. steel industry was indeed being injured by the foreign steel mills. We should expect similar results on the remaining cold rolled and hot rolled suits in the coming weeks.
From our Asian trading source: the most recent hot rolled sale out of China (late last week) was at $375 per metric ton, FOB ST, LSD with freight of $15/MT on CNF Liner Out basis ($340 per net ton). Billets as of Friday (alloy steel bars…) were being sold at $280 per metric ton, ST LSD out of China. CIS prices for billet on Friday was $300-$310/MT FOB Black Sea ports.
We are in the process of increasing our room block for the 2016 Steel Summit Conference. Registrations have been running significantly higher than last year. We intend to begin publishing what companies have registered by the end of this week. You can register on our website: www.SteelMarketUpdate.com or through our office at 800-432-3475. If you would like us to send you an invoice please provide us the names and email addresses for those you wish to register and to whom the invoice is to be sent. Send the information to: info@SteelMarketUpdate.com.
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John Packard, Publisher
John Packard
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