This morning in metals news, the Aluminum Association filed antidumping and countervailing duty petitions alleging imports of aluminum sheet from 18 countries are harming the U.S. industry, the British Steel takeover is set to be completed today, and the issue of steel and aluminum tariffs on Brazil remains up in the air.
Aluminum Association files petitions related to common alloy aluminum sheet
On Monday, the Aluminum Association filed petitions related to imports of common alloy aluminum sheet, claiming imports of sheet from 18 countries are harming the U.S. industry.
“These cases were filed just 13 months after the U.S. Department of Commerce published antidumping and countervailing duty orders on common alloy sheet from China,” the Aluminum Association said Monday.
“Existing duty orders in the U.S. have prompted Chinese producers to shift exports of common alloy sheet to other foreign markets. This has resulted in producers in those countries exporting their own production to the United States, the only market in the world where market conditions are not distorted by large volumes of low-priced imports from China.”
British Steel deal set to be completed today
The BBC reported Jingye Group’s planned takeover of British Steel is set to be completed today.
British Steel, the U.K.’s second-largest steelmaker, went into forced liquidation last May. According to the report, the Jingye takeover will save 3,000 jobs at British Steel’s Scunthorpe and Teesside operations.
Steel, aluminum tariffs on Brazil?
While U.S. President Donald Trump was complimentary of the U.S.’s relationship with Brazil, he declined to say whether the U.S. would continue to hold off on placing new tariffs on Brazilian steel and aluminum, Reuters reported.
“Today, President Donald J. Trump and President Jair Bolsonaro of Brazil reaffirmed the strategic alliance between the United States and Brazil, deepening the partnership between their two countries,” the White House said in a joint statement released Saturday. “The two leaders focused on increasing economic prosperity, strengthening democracy, and promoting peace and security.”