Articles in Category: Anti-Dumping

This morning in metals news: aluminum roller and recycler Novelis announced its quarterly financial results; meanwhile, the United States International Trade Commission voted Tuesday on anti-dumping duties for prestressed concrete steel wire strand; and, lastly, the Consumer Price Index rose by 0.8% in April.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Novelis reports ‘outstanding’ quarter

earnings sign

zerophoto/Adobe Stock

Aluminum roller and recycler Novelis reported net income of $180 million during the quarter ending March 31, 2020 (Q4 of fiscal year 2021).

The performance marked a jump from $63 million in Q4 of fiscal year 2020.

“Guided by our purpose and driven by the resilience of our people and the strength of our partnerships, we safely navigated this extraordinary year to achieve outstanding results,” President and CEO Steve Fisher said. “With the ongoing successful integration of Aleris, a diverse and innovative product portfolio, and unmatched geographic footprint, we have proven our ability to deliver sustainable aluminum solutions to customers in a way that resulted in record financial performance.”

Furthermore, among other factors, higher average aluminum prices helped drive a 33% year-over-year rise in sales to $3.6 billion.

Read more

This morning in metals news: the US steel capacity utilization rate ticked up to 77.9% last week; Novelis announced new sustainability targets; and the United States International Trade Commission (USITC) issued a ruling on seamless carbon and alloy steel standard, line and pressure pipe.

Cut-to-length adders. Width and gauge adders. Coatings. Feel confident in knowing what you should be paying for metal with MetalMiner should-cost models.

US steel capacity utilization hits 77.9%

US steel capacity utilization rose to 77.9% for the week ending April 3, the American Iron and Steel Institute (AISI) reported. Steel capacity utilization for the previous week reached 77.6%.

steel arrow up

Pavel Ignatov/Adobe Stock

Production during the week totaled 1.77 million net tons. The output marked an increase of 15.7% year over year. Furthermore, production increased by 0.3% from the previous week.

Novelis announces new sustainability targets

Aluminum sheet manufacturer Novelis announced new sustainability targets and a pledge to reach net-zero carbon emissions by 2050.

Furthermore, Novelis said it aims to reduce its carbon emissions by 30% by 2026.

Read more

nickel price

leszekglasner/Adobe Stock

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines of the week here on MetalMiner, including coverage of the nickel price, oil prices, housing starts and more.

Overall, steel prices continue to rise. Meanwhile, after experiencing significant price declines, lead and nickel have steadied of late. Aluminum continues to be on an upward trajectory, while copper has steadied after dropping from a Feb. 25 peak.

The MetalMiner team will be presenting a commodity forecast for copper, aluminum, stainless and carbon steel on Wednesday, March 24, at 10 a.m. CDT: https://zoom.us/webinar/register/WN_6J8wAyYySfihVk3ZUH9yMA

Week of March 15-19 (nickel price steadies, Honda announces temporary production suspension and more)

Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more.

tariffs headline over $100 bills

zimmytws/AdobeStock

Despite howls of protest from consumers, the Biden administration has doubled down on the Trump administration’s trade barriers with its latest move on aluminum tariffs.

The administration recently slapped semi-finished flat rolled aluminium anti-dumping duties on 18 countries supplying the US market.

Don’t miss the MetalMiner analyst team on March 24 at 10 a.m. CDT for a 30-minute metals market forecast and strategies to deploy in falling markets: https://zoom.us/webinar/register/WN_6J8wAyYySfihVk3ZUH9yMA.

Aluminum tariffs

Previous administrations’ focus on China — first on extrusions in 2011 and then foil and sheet in 2018 — succeeded in bringing down imports from 620,000 metric tons in 2017 to 170,000 tons last year, Reuters reported.

However, the wider Section 232 10% tariff is so riddled with exclusions and special exemptions that imports from the rest of the world have continued to make up a significant proportion of the market supply landscape.

Imports of sheet, plate and strip totaled 1.3 million metric tons in 2019. That represented about 62% of total aluminum product imports that year, according to Reuters. Although volumes shrunk sharply to 836,000 tons last year, this was due to the broader COVID-19 disruption to the U.S. manufacturing sector.

Total semis imports last year fell by 20%. Domestic shipments dropped by only 13% through November, suggesting the imposition of preliminary duties in October was already impacting buyers’ decisions.

According to Reuters, the new duties hit seven of last year’s top 10 product suppliers to the U.S. market, including South Korea, Germany and Turkey.

Canada, Saudi Arabia avoid aluminum tariff

The duties spared Canada, however, from which imports increased by 17%. They also spared Saudi Arabia, where Alcoa retains a close relationship with the Ma’aden smelter and rolling mill, despite having divested its 25.1% shareholding in 2019.

That Alcoa and its Saudi partner should essentially get an exemption comes as no surprise.

Read more

Department of Commerce building

The U.S. Department of Commerce. qingwa/Adobe Stock

This morning in metals news: the Department of Commerce said imports of common alloy aluminum sheet from 18 countries are being dumped and benefiting from subsidies; Federal Reserve Governor Lael Brainard this week commented on the US’s economic outlook; and the copper price has retraced somewhat over the last week.

DOC makes common alloy aluminum sheet ruling

The Department of Commerce ruled that common alloy aluminum sheet imports from 18 countries benefited from either dumping or countervailable subsidization.

The affirmative final dumping determination related to imports from: Bahrain, Brazil, Croatia, Egypt, Germany, India, Indonesia, Italy, Oman, Romania, Serbia, Slovenia, South Africa, Spain, Taiwan, and Turkey.

Meanwhile, the countervailing subsidy investigation referred to common alloy aluminum sheet imports from Bahrain, India and Turkey.

In 2019, Germany sent the most common alloy aluminum sheet, by value, to the US, at $286.6 million.

Don’t miss the MetalMiner analyst team on March 24 at 10:00 a.m. CDT for a 30-minute metals market forecast and strategies to deploy in falling markets:

Read more

list of commodities prices, including copper price, silver price, oil price and gold price

bradcalkins/Adobe Stock

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including coverage of the copper price, how the Biden administration will handle the former Trump administration’s metals tariffs and much more.

The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.

Week of Feb. 22-26 (copper price, aluminum tariff and much more)

Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more.

aluminum foil

Alex/Adobe Stock

The US Department of Commerce this week announced final margins for anti-dumping and countervailing duties on aluminum foil from China.

Do you know the five best practices of sourcing metals, including aluminum?

DOC calculates AD, CVD margins for aluminum foil

According to the Aluminum Association, the Department of Commerce announced anti-dumping and countervailing duty margins “in connection with the first annual administrative review of the unfair trade orders on certain aluminum foil.”

In its analysis, the DOC used sales information for Jiangsu Zhongji Lamination Materials Co., Ltd. and Xiamen Xiashun Aluminum Foil Co., Ltd. 

“The Aluminum Association and its members are pleased that the Commerce Department continues to enforce vigorously the anti-dumping and countervailing duty orders on aluminum foil from China,” said Tom Dobbins, president and CEO of the Aluminum Association.

Dobbins said the unfair trade orders are “leveling the playing field.”

However, he also said it is “discouraging” that Chinese producers are exporting foil using unfair trade practices.

“Today’s announcement reinforces the need for continued vigilance to ensure that foil imports from China are competing fairly in the U.S. market,” he added.

The Department of Commerce calculated a combined anti-dumping and countervailing duty rate of 71.98% for Jiangsu Zhongji Lamination Materials.

Meanwhile, the DOC calculated a combined rate of 67.45% for Xiamen Xiashun Aluminum Foil Co.

The duties also apply to “other cooperative respondents” whose shipments the DOC did not analyze individually.

The calculations cover aluminum foil that came into the United States between Aug. 14, 2017 and March 31, 2019.

“The unfair trade orders on aluminum foil from China continue to be effective in ensuring fair competition with imports from China,” said John M. Herrmann, lead counsel to the domestic industry. “We will continue our efforts to ensure the effectiveness of these unfair trade orders, including aggressive efforts to identify and thwart schemes to evade enforcement of the orders.”

Other investigations

Meanwhile, the Department of Commerce late last year launched investigations related to aluminum foil imports from five other countries.

The DOC in October launched probes related to imports from Armenia, Brazi, Oman, Russia and Turkey.

The period of investigation runs from July 1, 2019, to June 30, 2020.

Become part of the MetalMiner LinkedIn group and stay connected to trends we’re watching and interesting metal facts.

antidumping duty

MQ-Illustrations/Adobe Stock

The United States International Trade Commission (USITC) last week voted to maintain antidumping duties on non-oriented electrical steel.

The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors driving prices and a detailed forecast that can be used when sourcing metals for 2021 — including expected average prices, support and resistance levels.

USITC rules in five-year sunset review on antidumping duties

The USITC conducted a five-year sunset review of antidumping duties on non-oriented electrical steel (NOES). The review covered imports from China, Germany, Japan, Korea, Sweden and Taiwan.

Manufacturers use NOES in such applications as electric generators and motors.

Last week, the USITC said revoking the duties would likely result in “continuation or recurrence of material injury.”

Furthermore, the UISTC opted to maintain existing countervailing duties on imports from China and Taiwan.

Per the Uruguay Round Agreements Act, the Department of Commerce must revoke an antidumping duty or countervailing duty order after five years unless doing so would lead to “continuation or recurrence of dumping or subsidies” and “of material injury … within a reasonably foreseeable time.”

The USITC initiated the review process Nov. 1, 2019.

However, the initial investigation began in 2013 after AK Steel filed petitions with the Department of Commerce and USITC.

Read more

aluminum ingot stacked for export

Olegs/Adobe Stock

This morning in metals news: the Senate Committee on Appropriations allocated funding for a new Aluminum Import Monitoring system; the United States International Trade Commission voted to continue an aluminum foil investigation; and natural gas inventories are at a record high.

The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors driving prices and a detailed forecast that can be used when sourcing metals for 2021 — including expected average prices, support and resistance levels.

Senate includes funding for Aluminum Import Monitoring system

The domestic aluminum industry has long advocated for the creation of an aluminum import monitoring system. The Aluminum Association has often referred to the existing Steel Import Monitoring and Analysis system as a potential model.

Recently, the Senate Committee on Appropriations included $1.3 million in funding for a new aluminum import monitoring system during the fiscal year 2021.

“We are grateful for the committee’s leadership on this high priority issue for the U.S. aluminum industry, and we look forward to Congress taking action soon to enact this important provision in FY21 appropriations,” said Tom Dobbins, president and CEO of the Aluminum Association, in a release.

“Within Enforcement and Compliance, the Committee provides up to $1,300,000 for staffing and other necessary expenses to support development and implementation of the AIM system,” the Senate Committee on Appropriations said. “The Committee also encourages ITA to regularly consult with the aluminum industry on market dynamics to ensure the remedy is meeting its stated goal of supporting U.S. aluminum producers.”

USITC continues aluminum foil probe

The USITC voted to continue anti-dumping and countervailing duty investigation of aluminum foil from several countries.

The countries in question are Armenia, Brazil, Oman, Russia and Turkey.

In addition, the Department of Commerce will make preliminary countervailing duty determinations by Dec. 23, 2020. However, for its anti-dumping investigation, it will make preliminary determinations by March 8, 2021.

Read more

The Department of Commerce made a preliminary determination in its anti-dumping investigation covering non-refillable steel cylinders imported from China.

The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors driving prices and a detailed forecast that can be used when sourcing metals for 2021 — including expected average prices, support and resistance levels.

DOC rules steel cylinders dumped from China

The DOC determined China dumped the steel products into the U.S. at margins between 57.83% and 114.58%.

The domestic petitioner in the case is Worthington Industries of Columbus, Ohio.

“As a result of today’s decisions, Commerce will instruct U.S. Customs and Border Protection (CBP) to collect cash deposits from importers of non-refillable steel cylinders from China based on the preliminary rates noted above,” the DOC said in a release last week.

Imports of non-refillable steel cylinders reached a value of $21.5 million in 2019, per the DOC.

The U.S. International Trade Commission will make its final determination in the case by Feb. 22, 2021.

We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you receive it. Sign up today.

1 2 3 70