USITC extends antidumping against stainless steel from India
USITC extends antidumping against stainless steel from India

16 February 2024 – The United States International Trade Commission (USITC) has again extended the antidumping measure against stainless steel from India for 5 years. And caution: Imported material is not only FOB prices for stainless steel.

USITC extends antidumping measure against stainless steel from India

The United States International Trade Commission (USITC) yesterday determined that the removal of the existing antidumping duty on stainless steel bars from India would likely lead to a continuation or recurrence of material injury in the foreseeable future. As a result of the Commission’s positive determination, the existing decision on imports of this product from India remains in force.

Stainless steel: Costs for imported material do not only consist of FOB prices

Beware of so-called industry experts who continuously serve a narrative that is liked to be heard in the market, but who have never traded a gram of stainless steel themselves. And talk about FOB prices, which only account for part of the actual costs for imported material.

Substantial drop in stainless steel stocks in China

Stocks in some regions of China fell by almost 8% at the end of December 2023, after having already fallen for around six weeks. Even before the Chinese New Year celebrations began, the market had reported significantly higher demand for stainless steel than in previous years. In addition, certain flat rolled products, such as stainless steel plates, were difficult or impossible to obtain.

It should not be forgotten that demand during the Chinese New Year, especially in China itself, is rather subdued during these important holidays, which are also known and traditionally celebrated in many parts of Asia as the Lunar New Year or Spring Festival. We wonder why such experts seem to forget this!

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