Source: Jeff Yoders/MetalMiner.
The Department of Commerce announced yesterday affirmative final determinations in the anti-dumping and countervailing duties investigations of imports of steel threaded rod from India. The investigations covers certain carbon-quality steel threaded rod, bar, or studs that have been forged, turned, cold-drawn, cold-rolled, machine straightened, or otherwise cold-finished and into which threaded grooves have been applied.
The petitioners were All America Threaded Products, Bay Standard Manufacturing, and Vulcan Threaded Products. In the CVD investigation, mandatory respondents Mangal Steel Enterprises Limited and Babu Exports received final subsidy rates of 8.61 percent and 39.46 percent, respectively. Babu Exports’ subsidy rate is based on adverse facts available because it failed to respond to Commerce’s questionnaire. All other producers/exporters in India have been assigned a final subsidy rate of 8.61 percent. US customs will begin collecting the import duties immediately.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($135.32) and a low price of CNY 830.00 ($133.71) per dry metric ton. The price of Chinese HRC showed little movement on Monday at CNY 3,390 ($546.10) per metric ton. The price of Chinese coking coal continues hovering around CNY 1,390 ($223.92) per metric ton for the fifth day in a row.
The cash price of steel billet saw little price change yesterday on the LME at $395.00 per metric ton. The steel billet 3-month price remained essentially flat at $400.00 per metric ton on the LME.
The 3-month price of the US HRC futures contract remained essentially flat at $638.00 per short ton. The spot price of the US HRC futures contract held steady on Monday, remaining around $662.00 per short ton.