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This morning in metals news, a new European steel giant could be coming on the scene, that giant could result in the loss of thousands of jobs and aluminum hits a five-year high ahead of further Chinese supply cuts.

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Tata Steel, ThyssenKrupp Agree to Merge European Operations

The New York Times reported Wednesday that Tata Steel and ThyssenKrupp had agreed to a deal to merge their European steel operations — a merger that has been in the news for more than a year.

According to the report, while there are still some obstacles to completion of the merger, if it goes through the merged operation would make the second-largest steelmaker in Europe, behind only ArcelorMittal.

Merger Could Yield Loss of 4K Jobs

While the potential merger of the Indian steel giant Tata and German firm ThyssenKrupp’s European operations might be cause for celebration for some, it won’t be for a considerable number of workers, according to one report.

The merger of the two firms’ European operations could lead to the loss of 4,000 jobs, according to CNNMoney.

The merger is expected to cut costs by between €400 million and €600 million ($720 million) a year, according to the report.

Aluminum Soars to Five-Year High

Aluminum continued its strong 2017, hitting a five-year high, Reuters reported.

Not surprisingly, news from China has much to do with the rise, as supply cuts are forthcoming from Chinese producer Chinalco, according to the report.

Free Download: The September 2017 MMI Report

LME aluminum traded at $2,191 per ton, its highest since September 2012, according to Reuters.

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After a required five-year review, existing antidumping duty orders on carbon and alloy seamless standard, line, and pressure pipe (CASSLP) from Japan and Romania were kept in place after a vote Tuesday by the U.S. International Trade Commission (USITC).

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According to the Uruguay Round Agreements Act, the Department of Commerce must revoke an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the Department of Commerce and the USITC determine that “revoking the order or terminating the suspension agreement would be likely to lead to continuation or recurrence of dumping or subsidies and of material injury USITC within a reasonably foreseeable time.”

According to a USITC release, Chairman Rhonda K. Schmidtlein, Vice Chairman David S. Johanson, and Commissioner Irving A. Williamson voted in the affirmative. Commissioner Meredith M. Broadbent voted in the affirmative with respect to Japan and in the negative with respect to Romania.

The five-year sunset reviews in the case — Carbon and Alloy Seamless Standard, Line, and Pressure Pipe from Japan and Romania — were instituted Sept. 1, 2016.

The determination came on a third review of the orders. The second review of the orders led to a continuation of them as of Oct. 11, 2o11, for both Japanese and Romanian imports of the products.

According to the USITC’s posted notice explaining its determination to conduct full reviews for CASSLP imports from each country, it noted that it received a joint response filed on behalf of Vallourec Star, LP and U.S. Steel, domestic producers of CASSLP.

“Because these producers accounted for a substantial majority of domestic production of CASSLP pipe in 2015, the Commission determined that the domestic interested party group response was adequate,” the explanation noted.

Although the Commission did not receive a response from any interested parties in Japan, it received a joint response filed by S.C. Silcotub S.A., a Romanian producer of CASSLP pipe, and Tenaris Global Services (U.S.A.) Corporation, an affiliated U.S. importer of subject merchandise from Romania, the explanatory document said.

Free Download: The September 2017 MMI Report

The Commission’s public report containing information on the reviews will be available by Oct. 31 and can be accessed, once available, at http://pubapps.usitc.gov/applications/publogs/qry_publication_loglist.asp.

In another five-year sunset review, the Commission voted Sept. 14 to keep in place existing antidumping duty orders on steel nails from the United Arab Emirates.