Russian steelmaker Novolipetsk Steel’s (NLMK) proposed suspension of grain-oriented electrical steel anti-dumping duties with the US Department of Commerce has created opposition from domestic GOES producers AK Steel Corp and Allegheny Technologies (ATI), Power Transformer News reported.
The proposed agreement would suspend anti-dumping duties on the Russian company’s GOES imported products, which AK Steel, ATI, and two pf their unions voiced their “unequivocal” opposition to Commerce “entering into consultations with NLMK regarding a suspension agreement.”
Chinese steel prices were flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.70) and a low price of CNY 830.00 ($133.10) per dry metric ton. The price of Chinese HRC was unchanged at CNY 3,360 ($538.82) per metric ton. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($222.90) per metric ton.
For the fifth consecutive day, the cash price of steel billet held flat on the LME at $390.00 per metric ton. The 3-month price of steel billet held steady on the LME at $400.00 per metric ton.
The US HRC futures contract 3-month price held steady around $625.00 per short ton. The spot price of the US HRC futures contract held steady last Friday, remaining around $685.00 per short ton.