Overseas
May 1, 2022
Written by Chris Bandmann
By CRU Analysts Chris Bandman and Christopher Dix, from CRU’s Steel Monitor, April 29
Over two months ago, the Russian invasion of Ukraine quickly resulted in the suspension of effectively all Ukrainian steelmaking operations. Since late March, several steelmakers have begun to return to production. Currently, the following operations have partially returned to production:
Steel imports into the US crept higher in August and continued climbing in September, according to the Department of Commerce's latest import license data.
The US Department of Commerce is considering raising the anti-dumping duties on imports of corrosion-resistant steel products (CORE) from Korea.
Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.
The Department of Commerce thinks revoking the anti-dumping duty (AD) orders on cut-to-length carbon steel plate from China and Russia would lead to the recurrence of dumping at significant margins.
The Commerce Department has made its preliminary findings in the anti-dumping portion of the trade case investigating large-diameter graphite electrodes (LDGE) from China and India. The agency found that LDGEs from both countries are being, or are likely to be, sold in the US at less-than-fair-value.