Gerber Group reports that a current EU anti-dumping case regarding stainless steel imports from Taiwan and China in the Expiry Review may violate applicable EU law. US CAFC states that 50% duties on Turkish steel were legal. Chinese aluminum smelters struggle with energy shortages. And EU steel prices remain stable despite some seasonal cooling – what happens after the summer vacations?
US CAFC: 50% Section 232 duties on Turkish steel legal
On July 13, 2021, the U.S. Court of Appeals for the Federal Circuit (CAFC) issued its opinion in an appeal involving Section 232 duties on Turkish steel products. In a 2-1 decision, the appeals court reversed a lower court ruling that President Trump did not have the authority to increase Section 232 duties on Turkish steel from 25% to 50%. The court opinion is about a temporary increase in Section 232 duties on Turkish steel from 2018 to 2019.
EU steel prices stable despite some seasonal slowdown
What awaits the European steel market after the summer vacations? Despite a certain seasonal calm, when buyers traditionally act a little more cautiously, EU steel prices remain at a stable high level.
European steel producers are not much bothered, as their order books are already full until the end of 2021 and into early 2022. Therefore, when the season starts again for many steel consumers, a further price increase can be expected.
Aluminum smelters in China face energy problems
China’s Inner Mongolia is experiencing partial shutdowns in aluminum production due to problems with the energy supply. And demand for aluminum products remains at a high level. This has led to an increase in aluminum prices.
Aluminum premiums in Europe and the United States continue to rise
Aluminum premiums in the U.S. and Europe continued to strengthen in the week to Tuesday, July 13, with the former reaching a new all-time high despite typically low spot activity for the month of July.
Possible EU breach of law in anti-dumping case against China and Taiwan
In the expiry review of the anti-dumping measures applicable to imports of stainless steel cold-rolled flat products originating in the People’s Republic of China and Taiwan, the European Commission seems to have made gross errors. The Gerber Group with its CEO Thorsten Gerber, has informed the EC extensively about this error and how it breaks applicable EU law, in a hearing with the EC Directorate-General for Trade and a detailed written statement. Click here for more details!
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Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.