Source: Jeff Yoders/MetalMiner.
Regulators have begun an investigation into imports of rebar from three countries and the World Steel Association believes the global sector’s long crisis will end next year.
Today, the Commerce Department announced the initiation of anti-dumping investigations of imports of steel concrete reinforcing bar (rebar) from Japan, Taiwan, and Turkey, and a countervailing duties investigation of imports of the same merchandise from Turkey.
The investigations cover steel concrete rebar, which is used primarily as a structural agent to increase concrete structures’ resistance to tension, compression, temperature, and/or shear stresses.
The International Trade Commission will rule by November 4, initially, on whether or not the rebar imports and being dumped and subsidized.
World Steel Association Believes Crisis is Easing
The global steel sector crisis that prompted high profile plant closures and job losses last year is easing, with demand set to grow this year and next, the World Steel Association told its conference in Dubai on Tuesday.
In 2017, it expects global steel demand to grow 0.5% year-on-year to 1.510 billion metric tons while this year, Worldsteel sees demand up 0.2% to 1.501 billion mt.