Overseas
March 7, 2024
Written by David Schollaert
US hot-rolled coil (HRC) is now just about 5% more expensive than offshore hot band. The premium domestic product had over imports for roughly five months is all but gone, and nearing parity.
US HRC prices continue to decline – though at a slightly slower pace than in recent weeks – erasing a $300-per-short-ton (st) gap they had over imported HRC roughly two months ago.
The Commerce Department has found high dumping rates of Chinese tin mill products in the US market.
In the trade case investigating subsidized wire rod imports from Algeria, the Commerce Department set final subsidy rates and officially issued the countervailing duty (CVD) order.
The US Department of Commerce has raised the anti-dumping duties (AD) on imports of oil country tubular goods (OCTG) from Vietnam.
The Commerce Department has issued its preliminary countervailing duty (CVD) determination in the trade case investigating tin mill products from China.
China is bumping up against its official primary production capacity limit of 45.3 million metric tons/year, but production can still increase through “capacity creep.”