Oil prices fell by 2.5% at the end of today’s trading, Friday, December 1, 2023, continuing to hemorrhage losses for the second day, and recording losses for the sixth week in a row. The decline in crude prices comes after the voluntary oil production cuts agreed upon by OPEC+ producers were less than market expectations. […]
Oil prices record weekly losses and decline 2.5% Read More »
The US-EU trade meeting scheduled for next month is expected to be postponed until early next year, as the two allies remain deadlocked in talks over steel and critical metals, according to a report. According to Bloomberg, citing sources familiar with the matter, the Trade and Technology Council was scheduled to meet last month, but
The Canadian International Trade Tribunal (CITT) has announced that it has initiated an expiry review against the antidumping duties on cold rolled steel (CRC ) from China, South Korea and Vietnam. The current antidumping duties are at 91.9% for China, 53.0 percent for South Korea and 99.2% for Vietnam, while the subsidy rates are at
Canada initiates AD expiry review on (CRC) from three countries Read More »
According to final data from the US Department of Commerce, total US imports of wire rod reached 49,233 tons in September 2023, down 44.9% from August and 9.0% from September 2022 levels. By value, total wire rod imports reached $47.8 million in September 2023, compared to $85.7 million in August and $61.6 million in September
US imports of wire rod fell 44.9% in September Read More »
The European Union is studying the possibility of extending the temporary truce with the United States regarding steel and aluminum trade, a possibility that will help circumvent the stalled negotiations and avoid the re-imposition of customs tariffs on transatlantic exports worth $10 billion. Since the imposition of tariffs will resume automatically at the end of
Europe is considering extending the steel trade truce with the United States Read More »
According to preliminary data from the US Department of Commerce, total US imports of rebar reached 55,531 tons in September 2023, down 64.1% from August and 48.6% from September 2022 levels. In terms of value, total rebar imports reached $33.7 million in September 2023, compared to $93.8 million in August, and $82.9 million in September
US rebar imports down 64.1 percent in September with Egypt and Algeria in the lead Read More »
Talks between the European Union and the United States regarding tariffs on steel trade are still stalled, according to informed sources. This comes at a time when the two sides are trying to avoid the return of billions of dollars in duties on European steel exports to the United States, ahead of the US-European summit
US-European steel tariff negotiations falter…difficult points of contention Read More »
According to final census data from the U.S. Department of Commerce, U.S. wire rod imports totalled 89,393 tonnes in August 2023, an increase of 25.1% from July and 27.3% from August 2022 levels. In terms of value, total wire rod imports reached $85.7 million in August 2023, compared to $71.2 million in July and $86.5
The US Department of Commerce (DOC) has announced the final results of its administrative review of the antidumping (AD) duty order on light-walled rectangular welded carbon steel pipes and tubes from China for the period between August 1, 2021 and July 31, 2022. Accordingly, the US DOC has determined that Chinese Hangzhou Ailong Metal Product
US issues final AD duty on rectangular pipes from China’s Ailong Read More »
China’s Ministry of Commerce demanded on Wednesday that the United States immediately lift tariffs on Chinese steel and aluminum imports. The ministry’s comments came in response to a dispute settlement panel of the World Trade Organization, which concluded that China was imposing additional duties on some imports from the United States. The ministry said, “China
China calls on US to immediately raise tariffs on imports of steel and aluminum Read More »
According to final census data from the US Department of Commerce, US imports of wire rod totaled 64,178 mt in June 2023, down 8.2% from May and down 27.2% from June 2022 levels. By value, wire rod imports totaled $67.3 million in June 2023, compared to $74.9 million in May and $105.7 million in June
US wire rod imports down 8.2 percent in June 2023 and Egypt Ranks Fifth Read More »
According to export data from the US Department of Commerce, total US exports of HRC reached 96,315 tonnes in June 2023, up 24.2% from May and up 59.2% from June 2022. In terms of value, exports of HRC totaled $105.1 million in June, compared to $83.7 million in the previous month and $58.6 million in
US Exports of HRC Increased by 24.2% in June 2023 Read More »
Oil prices rose 2% at the end of trading today, Wednesday, August 9 (2023), to continue to reap gains for the second consecutive session, amid fears of a supply shortage. The decline in supply caused by production cuts by Saudi Arabia and Russia offset fears of slowing demand from China, the largest importer of crude,
Oil prices rose by 2%, and Brent crude was above $87 Read More »
According to preliminary statistics data released by the US Department of Commerce, total US imports of rebar reached 193,326 tonnes in June 2023, up 171.5% from May and up 94.3% from June 2022 levels. In terms of value, total rebar imports amounted to $123.0 million in June 2023, compared to $47.6 million in May and
Algeria and Egypt are the leading exporters of rebar to US in June Read More »
The US Federal Reserve raised interest rates by a quarter of a percentage point yesterday, to their highest level in 22 years, attributing this to persistently high inflation. And the main interest rate, after the 11th increase since the Fed began the cycle of tightening monetary policy to curb inflation in March 2022, reached the
US central bank raises interest rates to the highest level in 22 years Read More »
The European Union Trade Commission warned of the repercussions of the continuation of the US-European steel dispute and called for the need to find a compromise to end the confrontation between the two parties. In 2018, former US President Donald Trump imposed tariffs of 25 per cent on steel and 10 per cent on aluminium
The European Union calls Washington to find a compromise to end the dispute over steel Read More »
According to export data from the US Department of Commerce, US exports of wire coils totalled 7,173 mt in April 2023, down 28.5 % from March and down by 9.7 % from April 2022. By value, wire coils exports totalled $20.4 million in April, compared to $22.3 million in the previous month and $18.6 million
The US drawn wire coils were down 28.5 % in April 2023 Read More »
The US Department of Commerce (DOC) has announced the results of its administrative review of anti-dumping (AD) duties on welded quality round carbon steel pipe from the Sultanate of Oman for the periods December 1, 2019, through November 30, 2020, and December 1, 2020, through November 30, 2021. Accordingly, the Ministry decided that Oman’s steel
According to export data from the US Department of Commerce, monthly steel exports in April 2023 decreased by 13.3% compared to March, reaching 696,932 tonnes, and decreased by 7.4% compared to April 2022. In terms of value, US steel exports totalled $1.24 billion in April, compared to $1.43 billion in March and $1.39 million in
US steel exports decreased by 13.3% in April Read More »
According to preliminary statistics data from the US Department of Commerce, the US monthly steel imports in April 2023 decreased by 9.4% compared to March and by 13.3% compared to April last year, reaching 2,150,544 tonnes. In terms of value, steel imports to the United States totalled $3.23 billion in April, compared to $3.18 billion
US steel imports decreased by 9.4% in April Read More »
Crude oil prices fell by more than 1% during today’s trading, Monday, May 22, 2023, amid fears of an economic recession that may limit demand. Caution over US debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from Canada and OPEC+ producers. Moreover, by 06:55 am GMT (09:55 am
Crude oil prices are down 1%… and Brent is below $75 a barrel Read More »
According to export data from the US Department of Commerce, monthly steel exports in March 2023 increased by 12.7% compared to February, reaching 804,182 tonnes, an increase of 5.1% compared to March 2022. In terms of value, US steel exports totalled $1.42 billion in March, compared to $1.25 billion in February and $1.43 million in
US steel exports increased by 12.7% in March Read More »
According to preliminary statistics data issued by the US Department of Commerce, the total US rebar steel imports amounted to 76,844 tonnes in March 2023, a decrease of 38.8 per cent from February and a decrease of 47.8 per cent from March 2022 levels. By value, total rebar imports amounted to $53.6 million in March
Algeria tops the countries exporting rebar steel to the United States in March Read More »
In March of this year, US steel imports increased to 2.61 million tonnes, or 14.2%, compared to February 2023, according to the American Iron and Steel Institute (AISI). In March, the finished steel products import volume amounted to 1.91 million tonnes, an increase of 9% compared to February 2023. From January to March 2023, US
US steel imports rose 14.2% in March Read More »
Oil prices stabilized in early trading today after falling by 2 per cent in the previous session, amid anticipation of Chinese economic data in search of economic recovery signs. Brent crude settled at $84.76 a barrel by 0004 GMT, while US West Texas Intermediate crude rose five cents to $80.88 a barrel. Prices fell yesterday
Oil prices stabilize amid Chinese data anticipation Read More »
In February 2023, US steel exports increased by 7.9 per cent from January to 713,250 tonnes and an increase of 8.2 per cent compared to February 2022, according to export data from the US Department of Commerce. In terms of value, US steel exports totalled $1.25 billion in February, compared to $1.23 billion in January
US steel exports increased by 7.9% in February 2023 Read More »
Based on the latest Department of Commerce Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reports that steel import permit applications for March totalled 2,705,000 net tons (NT)*. This represents an increase of 23.1% over the 2,198,000 declaration tons recorded in February and 18.2% from the total conclusive imports
US steel imports declined in January-March 2023 Read More »
According to preliminary statistics data issued by the US Department of Commerce, total US imports of rebar reached 96,543 tonnes in February 2023, up 4.9% from January but down 30.6% from February 2022 levels. By value, total US imports of rebar reached $68.2 million in February 2023, compared to $71.7 million in January and $112.4
US imports of rebar increased by 4.9% in February Read More »
According to preliminary statistics data issued by the US Department of Commerce, monthly steel imports in the United States during February 2023 decreased by 13.5% compared to January, reaching 2,048,269 tons, and decreased by 4.1% compared to February 2022. In terms of value, US steel imports totalled $2.79 billion in February, compared to $3.29 billion
US steel imports decreased by 13.5% in February Read More »
The United States will extend anti-dumping duties on wire coil imports made of certain alloy steels from 10 countries. The aim of the investigation was that the import of these products from “Belarus, the Russian Federation, Ukraine, Italy, South Korea, South Africa, Spain, Turkey, the United Arab Emirates and the United Kingdom” affects the local
The United States extends anti-dumping duties on wire coils from 10 countries Read More »