For US President Joe Biden, it’s a Hobson’s choice on Chinese solar panel imports. His new move to pause tariffs on imported Chinese-made silicone solar panels for two years has been either hailed or criticized. The announcement came in the middle of an on-going investigation by the US Commerce Department. Possible trade agreement violations are […]
Category: Global Trade
Lithium Prices Surge Amid a Global Rush for Supply
After Russia’s invasion of Ukraine and the subsequent sanctions, the race is on around the world to find new sources of lithium. The prospect of running out of the rare element is a worst-case scenario for many countries. After all, it is a crucial component in the lithium-ion batteries used in electric vehicles. As EV […]
EU to Take in Ukrainian Steel With New Tariff Adjustments
NOTE: This story was updated on 6.7.22 The European Commission (EC) has extended its existing safeguard tariffs on steel to June 30, 2024, but with some adjustments. In a letter to the WTO, the executive body for the 27-member group said the annual rate of liberalization is due to increase from 3% to 4% as […]
Rolled Aluminum Anti Dumping Suspension on China by European Commission Ends
The EU has announced an end to the temporary suspension of anti-dumping duties on rolled aluminum products into the block. The suspension was set to expire in July. The news comes hot on the heels of last week’s announcement that the UK would establish provisional duties for six months while it carries out an anti-dumping […]
Iron Ore Prices Show Gains in China, but Is This a Temporary Rebound?
It’s still touch-and-go for the steel sector in China despite the sprouting of the first shoots of a possible manufacturing recovery. However, last Monday, benchmark iron ore prices in the country gained a surprising 7%. This is the biggest daily rise in two-and-a-half months. Is it a sign that we should be more optimistic, or […]
UK moves to slap anti dumping duties on aluminium bar imports from China
The UK Trade Remedies Authority announced on Friday, May 20, that new measures should be put in place to “protect the UK’s aluminum extrusion industry” from dumped Chinese products.” The surprise move comes after an 11-month investigation into inconsistencies with aluminum bar imports. The TRA made the recommendation to the organization’s current Secretary of State […]
European Gas Impact on Steel Prices
Steel prices and gas are the primary topics of conversation today. It seems that steel traders in China are seeking more buyers abroad for their finished steel products. Meanwhile, Russia is mulling cutting gas supplies to the EU. Gas prices have an enormous impact on steel prices. China: Lockdowns at Home, Low Demand Abroad The […]
China Demand is Sagging
The bears are back in the metal markets, and one of their prime motivators is this year’s dismal prospects for China. A note in the FT’s Unhedged today explored the country’s “impossible trilemma” of achieving 5.5% GDP growth, reaching a stable debt-to-GDP ratio, and meeting zero-COVID initiatives. When you combine this with the reality that […]
UK Duties Applied to Russian Platinum and Palladium
The United Kingdom recently imposed a 35% duty on all platinum and palladium imports from Russia and Belarus. This move is part of a new package of sanctions on the two countries totaling £1.7 billion ($1.7 billion). The Department for International Trade (DIT) and HM Treasury made the announcement on May 9. Since Russia’s late […]
Ukraine Invasion Changes Global LNG Equation in Favor of US
Japan is reportedly actively considering extending financial support to the US to boost liquefied natural gas (LNG) production. Incidentally, the US is already the world’s 3rd largest exporter of LNG behind Qatar and Australia. However, the country is set to play an even bigger role in global LNG production and export as the Russian market […]
