Articles in Category: Anti-Dumping

This morning in metals news: Nucor Corporation this week said it is evaluating locations for a new 3-million-ton capacity sheet mill; meanwhile, the Department of Commerce announced changes to its anti-dumping and countervailing duty regulations; and, lastly, British Steel warned about surging power prices.

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Nucor Corporation to build new sheet mill

Nucor logo

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Nucor Corporation this week said it is evaluating locations for a new sheet mill that will have a capacity of 3 million tons.

The steelmaker said it is looking at possible locations in Ohio, Pennsylvania and West Virginia.

“The new mill will be geographically situated to serve customers in the Midwest and Northeast markets and will have a significantly lower carbon footprint than nearby competitors,” Nucor said.

The steelmaker said the new mill will cost approximately $2.7 billion. The mill will produce hot-rolled sheet products with downstream processing. Furthermore, the facility will also have a tandem cold mill, annealing capabilities and two galvanizing lines.

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This morning in metals news: Rio Tinto said it plans to triple solar capacity at its Weipa bauxite mine in Australia; meanwhile, the Aluminum Association said the Department of Commerce had issued final affirmative determinations regarding imports of aluminum foil; and, lastly, U.S. Steel is reportedly looking for a site to build a $3 billion mini-mill.

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Rio Tinto to triple solar capacity at Weipa

Rio Tinto sign

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Rio Tinto said it aims to triple its solar capacity at its Weipa bauxite mine in Australia.

“Under the plans, EDL has been contracted to build, own and operate a 4MW solar plant and 4MW/4MWh of battery storage at Weipa,” Rio said in a release. “Work on the battery facilities will start this year, with construction of the whole project expected to be complete by late 2022.

Aluminum Association praises aluminum foil ruling

The Department of Commerce issued final affirmative determinations in its anti-dumping and countervailing subsidy review of aluminum foil imports from Armenia, Brazil, Oman, Russia, and Turkey, the Aluminum Association said Friday.

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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 stainless steel consumption’s impact on nickel prices, surging aluminum prices and much more:

stainless steel rods

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Week of Sept. 13-17 (stainless steel drives nickel, aluminum prices rise and more)

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It is a curious insight into E.U. thinking when there is a clear case for anti-dumping duties only for them to be rowed back at the 11th hour after complaints from just two aluminum users and one importer.

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Chinese aluminum and European anti-dumping duties

China aluminum

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You must assume they are well connected. Pretty much the whole aluminum manufacturing sector had been behind the original case to investigate.

Currently, following an announcement made in April 2021, provisional duties of between 19.3% and 46.7% were set to become definitive duties of between 14% and 25% from October.

Those duties would have stayed in place for five years. But it seems the rapid rise in aluminum prices has sparked panic, if not in Brussels then at least among importers with the most to lose.

As such, pressure has been applied to postpone the investigation.

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This morning in metals news: Norsk Hydro plans to expand capacity at its Sjunnen aluminum extrusion plant; the Pilbara Ports Authority reported a decline in throughput in July; and, lastly, the United States International Trade Commission conducted a five-year sunset review on existing duty orders for carbon and alloy steel standard, line and pressure pipe from China.

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Hydro to boost capacity at Sjunnen

Norsk Hydro

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Oslo-based Norsk Hydro announced it plans to increase capacity at its extrusion plant in Sjunnen, Sweden.

The firm said it will finalize the expansion, which comes at a cost of €11.3 million, by the end of 2022.

“The decision to expand the aluminium casthouse operations in Sjunnen comes in response to an increased market demand for low-carbon aluminium profiles across all industries where Hydro Extrusions operates,” Hydro said.

“Furthermore, the location in the south of Sweden is ideal to capture available used aluminium metal from local industries which otherwise would have had to be transported long distances, increasing cost and carbon footprint of the final product.”

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The U.K. government has upheld the Trade Remedies Authority’s (TRA) revocation of anti-dumping duties for welded tube and pipe imports from Russia. However, it has upheld them for imports of the same product from Belarus and China.

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Tube and pipe duties

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The TRA made the recommendation to the Secretary of State for International Trade in its final determination of its transition review, which the U.K. government released Aug. 9, following the U.K.’s exit from the European Union in 2020-21.

That document, dated July 9, found that Russian steelmakers did not import into the U.K., meaning that no dumping has occurred.

The import duty thus lapsed from Jan. 30, 2021.

“Replacement of EU trade duty was Dec. 31, 2020. Consequently, the day of the expiry of the measure, and the appropriate date from which the anti-dumping amount will apply (or is revoked) is Jan. 30, 2021,” the TRA said in its recommendation.

Duties on the Russian imports were 10.1-20.5%, depending on the producer.

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This morning in metals news: miner Rio Tinto said it had committed funding of $2.4 billion toward the Jadar lithium-borates project in Serbia; meanwhile, the U.S. international trade in goods deficit rose in June; and, finally, the United States International Trade Commission determined imports of metal lockers from China materially injure U.S. industry.

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Rio Tinto commits funding for Jadar lithium project

Rio Tinto sign

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Rio Tinto announced this week that it had committed $2.4 billion in funding toward the Jadar lithium-borates project in Serbia.

“The Jadar project would scale up Rio Tinto’s exposure to battery materials, and demonstrate the company’s commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition,” the miner said.

“Jadar will produce battery-grade lithium carbonate, a critical mineral used in large scale batteries for electric vehicles and storing renewable energy, and position Rio Tinto as the largest source of lithium supply in Europe for at least the next 15 years. In addition, Jadar will produce borates, which are used in solar panels and wind turbines.”

US trade deficit rises in June

According to Census Bureau figures released today, the U.S. international trade deficit rose 3.5% from May to June.

The deficit reached an estimated $91.2 billion last month.

June exports came in at a value of $145.5 billion. Meanwhile, imports came in at a value of $236.7 billion.

USITC votes on metal lockers from China

Lastly, the United States International Trade Commission (USITC) yesterday determined imports of metal lockers from China materially injure domestic industry.

“The United States International Trade Commission (USITC) today determined that a U.S. industry is materially injured by reason of imports of metal lockers from China that the U.S. Department of Commerce (Commerce) has determined are subsidized by the government of China and sold in the United States at less than fair value,” the USITC said in a release.

As a result, the Department of Commerce will issue antidumping and countervailing duty orders for the product.

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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.

This week, we touched on the USMCA (which turned 1 on Thursday), Stuart Burns covered the relationship between inventory levels and metals demand, and much more.

On the USMCA — which went into effect July 1, 2020, almost four years after NAFTA talks began — United States Trade Representative Katherine Tai offered some comments this week on the occasion.

“We should also celebrate the USMCA because of what it represents: a renewed commitment by our three countries to pursue negotiations that raise standards and create a race to the top,” she said.

Furthermore, USMCA trade ministers will meet in Mexico City on July 7 to commemorate the one-year anniversary of the trade agreement.

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Week of June 28-July 2 (USMCA, metal stock levels and more)

USMCA

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  • The global lead and zinc markets were in surplus through the first four months of 2021, the International Lead and Zinc Study Group said.
  • Meanwhile, GDP rose in all 50 states in the first quarter, the Bureau of Economic Analysis (BEA) reported.
  • In addition, Stuart Burns covered Russia’s plans to impose export taxes on key metals.
  • U.S. steel capacity utilization for the week ending June 26 reached 82.7%, the American Iron and Steel Institute reported.
  • The U.S. Court of International Trade made a ruling affirming duty levels set by the Department of Commerce with respect to heavy walled rectangular steel pipes and tubes from Korea.
  • Burns on the loss of support for the zinc price.
  • The E.U. voted to extend steel safeguards, originally imposed in 2018, for an additional three years.
  • The USMCA Labor Council convened for the first time, pursuant to the 1-year-old agreement’s chapter on labor.
  • Think stock levels are a reliable indicator of true metals demand? Think again.
  • Norsk Hydro has signed a letter of intent to build an aluminum recycling plant in Michigan.
  • Meanwhile, the United States-Mexico-Canada Agreement, or USMCA, hit the one-year mark this Thursday.
  • The U.S. goods and services deficit rose in May from the previous month.
  • Lastly, for subscribers, the MetalMiner Monthly Outlook for July is now available.

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This morning in metals news: the U.S. Court of International Trade voted to affirm the duty levels set by the Department of Commerce with respect to heavy walled rectangular steel pipes and tubes from Korea; meanwhile, U.S. distillate demand returned more quickly than gasoline and jet fuel demand; and, lastly, the copper price has bounced back this past week.

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USCIT affirms duties on Korean pipe, tube

judge's gavel

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The U.S. Court of International Trade recently ruled to maintain a Department of Commerce determination on anti-dumping duty levels on heavy walled rectangular steel and pipe from Korea.

Korean firms Dong-A Steel Company and Kukje Steel Co., Ltd. were the plaintiffs in the case.

The Department of Commerce had previously determined a weighted-average dumping margin for DOSCO of 11.00% and 7.89% for Kukje.

Distillate demand speeds ahead

U.S. distillate demand has recovered to 2019 levels faster than gasoline and jet fuel demand, the Energy Information Administration reported.

“The combination of increases in both travel and economic activity in the United States has contributed to more demand for gasoline, distillate, and jet fuel, as reflected in the product supplied data of our Weekly Petroleum Status Report (WPSR),” the EIA reported. “Although demand has increased for all three of these products from their 2020 lows, the extent of the demand growth has differed by product.”

For the week ending June 18, the four-week average demand for gasoline reached 94% of the four-week average for the same week in 2019, the EIA reported. Meanwhile, distillate reached 98%, with jet fuel at 74%.

Copper price makes gains

Meanwhile, after an approximately six-week decline after hitting an all-time high, the copper price has made some gains over the last week.

The LME three-month copper price closed Monday at $9,460 per metric ton. The price had fallen to $9,070 per metric ton the previous Monday, June 21.

However, the price remains down 6.99% month over month.

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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 steel sector news, the Biden administration’s release of a 250-page supply chain report and much more:

steelmaking in an EAF

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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 June 7-11 (steel sector news, Biden administration’s supply chain review and more)

Each month, MetalMiner hosts a webinar on a specific metals topic. Explore the upcoming webinars and sign up for each on the MetalMiner Events page.

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