ATI, AK Steel Oppose GOES Settlement Between Dept. of Commerce, Russia’s NLMK

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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.

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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.”

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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.

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