This morning in metals news, U.S. import market share for steel reached 17% in September, the European Commission is investigating potential dumping of hot-rolled stainless steel from China and Indonesia, and India is set to become a net importer of iron ore.
Steel Import Market Share 17% in September
According to the American Iron and Steel Institute (AISI), U.S. steel import market share hit 17% in September, down from the 20% for the year to date.
Steel import permit applications totaled 1.97 million net tons for the month, down 9.4% from import permit tons recorded in August.
European Commission to Launch Anti-Dumping Probe
The European Commission is set to investigate potential dumping of hot-rolled stainless steel from China and Indonesia, Reuters reported.
In addition, the European Commission has imposed provisional anti-dumping duties of up to 66% on steel road wheels imported from China, according to the report.
India to Become Net Iron Ore Importer
India is set to become a net importer of iron ore in the next financial year, the Hellenic Shipping News reported.
The Indian government is auctioning off iron ore blocks ahead of the expiration of a number of mining leases early next year; however, potential hang-ups in the process could leave the country short on available iron ore supply, leading to the necessity to import the steelmaking material.