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voda 28 november 2017 20:17

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Nickel slide continues on Chinese jitters
Published on Tue, 28 Nov 2017

Reuters reported that Nickel prices fell nearly 4 percent on Monday, pressured by weakening demand for stainless steel in top metals consumer China, rising Chinese borrowing costs and Beijing’s regulatory crackdown on risky financing. London Metal Exchange nickel ended 3.9 percent down at $11,570 a tonne, having touched a one-week low of $11,565.

Chinese stocks fell sharply amid worries that rising borrowing costs will hit company profits and that fresh moves to reduce risks in the asset management industry could hit banks and millions of small investors.

Colin Hamilton, head of commodities research at BMO Capital Markets, said “Some reports coming from China (indicate) stainless orders are weakening. Over the past couple of weeks questions from clients have gone from ‘what are the benefits of electric vehicles (for nickel)’ to ‘how bad is China’s demand’. China produced so much stainless in the third quarter they’re having to cut back. I’d expect stainless production to be down relatively strongly in the fourth quarter.”

Source : Reuters

voda 29 november 2017 20:44

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Outokumpu introduces nickel-based alloy Ultra Alloy 825 to its product portfolio
Published on Wed, 29 Nov 2017

Outokumpu announced an extension to its product portfolio. Outokumpu Ultra Alloy 825 is a titanium stabilized austenitic nickel-based alloy with an addition of copper. It is primarily used for processing equipment in the chemical and oil and gas industries due to its exceptional corrosion resistance against some acids as well as under so-called “sour service” conditions, i.e. in environments containing hydrogen sulfide.

Source : Strategic Research Institute

voda 6 december 2017 16:58

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Nickel get boost from Chinese steel market gains

Reuters reported that nickel gained as the metal mainly used in stainless steel got a boost after Chinese steel futures touched three-month highs. Steel and iron ore contracts in Shanghai surged on Monday as government-ordered steel production cutbacks to reduce pollution led to tighter supplies for some mill products.

Ms Caroline Bain, chief commodities economist at Capital Economics, said that stronger prices might not last long because eventually the steel production cutbacks during the peak Chinese smog season in the winter would mean less need for nickel.

Benchmark nickel on the London Metal Exchange climbed 0.8 % to USD 11,385 a tonne in official open outcry trading, building on gains of 1.6 USD .

Capital Economics expects nickel which has declined 12 % from a two-year peak of USD 13,030 hit on Nov 1 to end this year at USD 10,750.

Ms Bain added that other metals are also likely to see a modest amount of further downside.

Ms Bain said that “There’s quite a lot of speculation in the market and we think there’s over-optimism about the strength of Chinese demand.” Ms Bain added that “I think there are clear signs now that the economy is cooling, particularly in the metals-intensive industries.”

Mr Alastair Munro at broker Marex Spectron said that “Whilst China property concerns remain, steady global growth expectations coupled with on-going mine supply disruptions are likely to lend support on dips with USD 6,550-USD 6,650 the bottom of a new range.”

Source : Reuters

voda 8 december 2017 16:45

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Vale cuts its nickel output estimate by 15pct

Reuters reported that Brazilian miner Vale SA dialed back its nickel output forecasts for the next five years on Wednesday, although the world’s top producer of the metal praised its longer term prospects on likely soaring demand for electric cars. Vale cut its nickel output estimate by 15% to 263,000 tonnes next year and said it was still seeking an investor for its New Caledonia nickel mine.

Ms Jennifer Maki, executive director of Vale’s base metals unit, at an annual investor presentation in New York said that however, Vale wants to “preserve its nickel optionality” ahead of an expected boom in electric vehicles in the next decade.

The rechargeable batteries used in electric vehicles have companies scrambling to lock in supplies of key ingredients like nickel, cobalt and lithium.

Ms Maki pointed to market forecasts that electric vehicles would represent between 7 percent and 20 percent of the global auto market by 2025, up from 1 percent in 2017.

Vale Chief Executive Fabio Schvartsman agreed. He said that “I‘m very positive about nickel, much more positive than I was some months ago.”

The company said on Wednesday it would make a decision by the end of next year whether to plow a needed USD 500 million into its New Caledonia project over the next four years. It has previously said it has received bids to invest in the mine, which is located on a Pacific island.

Vale, which is also the world’s top iron ore producer, kept iron ore production forecasts stable for next year at 390 million tonnes, rising to 400 million in 2019. Executives forecast prices for the commodity to remain in line with this year’s prices in 2018.

Source : Reuters

voda 8 december 2017 16:51

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Colombia nickel output up in Q3

Platts reported that Colombian output of nickel rose in the third quarter from a year ago, while precious metals and coal production fell. The National Mining Agency said that nickel output jumped 33.8% to 25.7 million lb from 19.2 million lb a year earlier at the Cerro Matoso mine, owned by BHP Billiton spinoff South32.

Gold output dropped 38.3% to 288,194 oz from 467,768 oz a year earlier, the agency said. The government has imposed tougher controls on gold trading as part of a clampdown on illegal mining.

Silver slid 0.3% to 76,935 oz from 77,164 oz, while platinum plunged 44.5% to 4,952 oz from 8,934 oz.

Colombia's coal output at mines operated by BHP Billiton, Drummond and Glencore declined by 8.1% to 21.5 million mt in the quarter from 23.4 million mt a year earlier, the agency said. Colombia is Latin America's largest coal producer.

Source : Platts

voda 13 december 2017 17:22

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Vale forecast nickel production to up in next five years

Market Realist reported that Vale pared back its production forecasts for nickel for the next five years. It cut its nickel volumes estimate by 15% to 263,000 tonnes in 2018. Its focus is to shift to a smaller footprint in nickel as it improves the competitiveness of the business. Its strategy is to align investments and production based on market conditions. At the same time, the company wants to preserve its optionality in nickel ahead of the expected boom in electric vehicles. Nickel, cobalt, and lithium are used in rechargeable batteries in electric vehicles. Vale’s executive director of base metals, Ms Jennifer Maki, said the market forecast suggests that electric vehicles would represent 7%–20% of the global auto market by 2025, up from 1% in 2017.

To ensure that all of its assets contribute to cash flow, Vale is doing asset reviews. In light of these reviews, Vale has closed several of its projects, including Stobie mine and Sudbury mine in May 2017, Birchtree Thompson in October 2017, and Kaohsiung nickel refinery in November 2017. It’s also progressing toward a closure decision of its precious metals refinery in 2Q18.
Decision on New Caledonia

The company also stated that it would decide by the end of next year whether to put USD 500 million into its Vale New Caledonia project over the next four years. It’s currently focusing on improving stability for its VNC operations. VNC is continually ramping up in 2017 with a forecast for production of 40,000 tons. The company also mentioned that it’s progressing toward an EBITDA (earnings before interest, tax, depreciation, and amortization) neutral level in recent months with 3Q17 EBITDA of -USD 7 million.

In copper, the company is focused on increasing production. In addition to Salobo III, Vale has two other copper projects—Victor in Sudbury, Canada, and a new discovery in Indonesia. Copper prices have been very volatile in 2017. Freeport-McMoRan has risen 6.8% year-to-date. The stock has underperformed the broader metals and mining space this year. Looking at other copper miners, we find that Glencore and Antofagasta have risen 30% and 40%, respectively, this year. Southern Copper has risen 35.1%, while First Quantum Minerals has risen 16%.

Source : Market Realist

Bijlage:

[verwijderd] 14 december 2017 15:43

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Thx Voda.

Nickel, Lithium en grafiet... veelbelovend.

voda 15 december 2017 17:08

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Stainless steel firm VDM Metals put up for sale -Report

Reuters quoted a person close to the matter as saying that Buyout group Lindsay Goldberg Vogel has put stainless steel group VDM Metals up for sale after receiving expressions of interest from several companies. The source said that the private equity firm has asked Morgan Stanley to organise an auction of the company, which posted earnings before interest, tax, depreciation and amortization of 70-75 million euros in the 2017 fiscal year on sales of 800-900 million euros.

Lindsay Goldberg bought VDM, or Vereinigte Deutsche Metallwerke, from ThyssenKrupp for about 500 million euros in 2015.

VDM, acquired by Thyssen in 1989, briefly became part of Outokumpu in 2012, when the Finnish company bought ThyssenKrupp's stainless steel unit Inoxum. But a year later, Outokumpu sold VDM back to Thyssen.

Source : Reuters

voda 15 december 2017 17:09

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Outokumpu showcasing high end stainless steel products at CHEMTECH SOUTH WORLD 2017

Finland based Outokumpu, leading stainless steel manufacturer, is showcasing its enhanced range of formidable products and technical services on the growing demand for critical requirement in emerging high end application segments in India which includes energy, oil and gas, chemical processing, water treatment and desalination plants during the Three day CHEMTECH SOUTH WORLD 2017 being held at Hyderabad from December 13-15, 2017.

Mr Yatinder Pal Singh Suri, Managing Director and country Head, Outokumpu India said “Stainless steel is an essential material for achieving sustainability in the critical key industries. As a leading global stainless steel supplier, Outokumpu the World’s oldest and largest manufacturer is presenting its products, services and capabilities at the event. The company is also highlighting how speciality stainless steels provide for sustainable solutions for safer and more reliable processes.”

He said “The main contributors to improved safety and reliability in any key process industry are corrosion resistant materials which reduce downtime and maintenance needs. Outokumpu’s high strength duplex stainless steel grades offer new opportunities for the industry to attain these goals increasingly effectively and competitively. Duplex allows for considerable material savings due to higher strength in various applications and offers far superior corrosion resistance than the conventional material choices in stainless steel as well as coated carbon steel; the benefits include more flexibility in the types of stored liquids in storage tanks , minimized maintenance, and reduced corrosion hazards and lower cost.”

Mr Suri added “Exhibiting and presenting at CHEMTECH SOUTH WORLD 2017, Outokumpu is taking the opportunity to propagate messages about sustainable solutions provided by the Group's speciality stainless steels. These stainless steels achieve the lowest life cycle cost, optimal productivity and higher profitability. The world-leading stainless steel producer with the broadest product portfolio and biggest R&D centres , Outokumpu supplies materials for water treatment, desalination, sub-sea equipment's, oil refining, chemical tankers, nuclear energy and ports, enhancing profits and productivity for the end user with competitive cost advantage.”

Source : Strategic Research Institute

0,0 18 december 2017 15:51

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quote:
voda schreef op 15 december 2017 17:08:
Stainless steel firm VDM Metals put up for sale -Report

Reuters quoted a person close to the matter as saying that Buyout group Lindsay Goldberg Vogel has put stainless steel group VDM Metals up for sale after receiving expressions of interest from several companies. The source said that the private equity firm has asked Morgan Stanley to organise an auction of the company, which posted earnings before interest, tax, depreciation and amortization of 70-75 million euros in the 2017 fiscal year on sales of 800-900 million euros.

Lindsay Goldberg bought VDM, or Vereinigte Deutsche Metallwerke, from ThyssenKrupp for about 500 million euros in 2015.

VDM, acquired by Thyssen in 1989, briefly became part of Outokumpu in 2012, when the Finnish company bought ThyssenKrupp's stainless steel unit Inoxum. But a year later, Outokumpu sold VDM back to Thyssen.

Source : Reuters

Als Aperam hier niet achteraan gaat zou me dat zeer verbazen. Past geheel binnen strategie om meer de specialistische kant op te gaan. Daarnaast kunnen ze het makkelijk betalen, zou mogelijk de strategische zet/groei kunnen betekenen waar ze jaren op hebben liggen azen. Denk alleen niet dat ze mega premium gaan betalen, dat doen ze namelijk nooit:) Desalniettemin zeer interessant!!

0,0 18 december 2017 15:56

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quote:
voda schreef op 24 november 2017 16:30:
Thyssenkrupp confirms Italian stainless steel unit Acciai Speciali Terni for sale

Reuters reported that Thyssenkrupp Chief Executive Heinrich Hiesinger on Thursday confirmed plans to sell its Italian stainless steel plant, Acciai Speciali Terni (AST), adding this was the group’s only asset currently up for sale.

Dr Hiesinger made the comments after presenting full-year results that included the group’s highest order intake in five years, without specifying whether an official sales process had been launched.

Source : Reuters

En deze zullen ze zich ook wel in roeren, als de prijs maar goed is --> Lees laag :) Anders geen zin om met die hopeloos verloren Italianen te gaan vechten haha, al heeft meneer Mittal de nodige ervaring met armpje drukken in die regio dus je weet het nooit.

voda 18 december 2017 21:13

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Vale opted to reduce its nickel output

Vale is the world’s largest nickel producer. The company in its recent news release has reduced its production guidance for nickel for the next four years. In an environment with a favorable demand condition for nickel, let us look at the factors which has influenced Vale to take this crucial decision.

Expectation of Enhanced Future Nickel Demand
The company made a downward revision to its nickel production by 8% for 2018 (Y-O-Y) in order to benefit from a future environment of increased Nickel prices. Nickel is a primary constituent used in the production of lithium ion batteries used in the operation of Electric Vehicles. These batteries enable the vehicles to operate for a longer duration and hence are an integral part of the EV revolution. Given the environmental benefit that EV possesses, UBS expects 16.5 million global sales of electric vehicles by 2025, a revision to their earlier forecast of 14.2 million cars. This would lift the demand for nickel by 10 to 40% of the current market.

However, nickel prices have not soared as significantly as other metals used in EV production (like copper) even though the market for nickel is extremely favorable (depicted by the below price graph). This is mainly due the fact that nickel is currently oversupplied, which has limited the ability of the metal to charge a premium for its price. However, this trend is presumed not to persist in the long term given that the demand for the metal is expected to surpass supply due to their extensive usage in Evs.

Vale plans to increase their nickel output gradually over time post the prices for nickel have been correctly valued. This expectation has been illustrated in the below graph. You can view our base case for Vale’s nickel segment here and create different scenarios using our interactive platform.

A decrease in the production estimate for nickel would remain in line with the company’s strategy of debt reduction. Reduced investment in the company’s nickel mine would reserve capex spending of up to USD 1.6 billion in 2017 and 2018. Furthermore, an expected rise in nickel prices would enable the company to maintain their cash flows from its base metal division. Thus, an enhanced level of cash flow coupled with reduced capital spending would allow the company to use their funds in retiring its long term debts and improve its leverage position.

Several global nickel producers have already ramped up their nickel exploration and production process in order to take full advantage from the expected rise in future nickel prices. In such a given environment, estimating if it was sensible for Vale to reduce their nickel output would only be known over the course of time. We shall keep a close watch as these future developments take shape.

Source : Trefis.com

voda 20 december 2017 16:10

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Beursblik: Goldman Sachs optimistisch over grondstofprijzen
Verwachting van stijgende prijzen olie, zink en nikkel.

(ABM FN-Dow Jones) Goldman Sachs is positief gestemd over de grondstofprijzen in 2018. Dit bleek uit een rapport van de Amerikaanse zakenbank.

Afgelopen jaar hebben de grondstofprijzen zich volgens de analisten teleurstellend ontwikkeld, vooral in vergelijking tot de oplopende aandelenkoersen. Voor komend jaar is Goldman Sachs desalniettemin enthousiast over de vooruitzichten.

Olie

Wat betreft olie denken de analisten van de zakenbank dat halverwege volgend jaar de wereldwijde olievoorraden weer in balans zullen zijn. Dit zal in de tweede helft van 2018 leiden tot een geleidelijke opheffing van de productiebeperkende maatregelen van OPEC en Rusland. De schalieproductie in Amerika zal naar verwachting van de analisten hoog blijven.

Aluminium

De wereldwijde aluminiummarkt staat er volgens Goldman Sachs goed voor. Dit is volgens de analisten te danken aan de pogingen van China om een beter milieubeleid te voeren. Daardoor zal de productie in China dalen. Er rest volgens de bank evenwel weinig prijspotentieel, hoewel een terugval naar de niveaus van begin dit jaar ook niet zal gebeuren.

Nikkel

Wat betreft de nikkelprijzen rekent Goldman Sachs op een prijsstijging in het begin van 2018, dankzij goede macro-economische omstandigheden, gunstige seizoensontwikkelingen en door capaciteitsreducties in China. Kijkend naar een termijn van zes tot twaalf maanden wordt echter uitgegaan van een daling op basis van een "bescheiden" groeivertraging China.

Zink

De zinkmarkt zal krap blijven in de eerste helft van 2018 door lage voorraden en lagere niveaus van de verwerkingslonen in China. Ook speelt backwardation, wat betekent dat de spotprijs hoger ligt dan de prijs voor levering in de toekomst, een rol. In de tweede jaarhelft voorzien de analisten dat de voorraden toenemen. Na 2018 verwacht de Amerikaanse bank dat er sprake zal zijn van bescheiden overschotten, maar de zinkprijzen zullen volgens de analisten waarschijnlijk hoog blijven.

IJzererts

In november en begin december dit jaar zijn de ijzerertsprijzen gestegen tot boven de 70 dollar per ton, maar de analisten denken niet dat dit niveau houdbaar is. Voor de komende drie maanden wordt gerekend op een prijsniveau van 60 dollar per ton. Voor heel 2018 rekent Goldman Sachs op een gemiddelde prijs van 55 dollar, door een toename aan de aanbodzijde.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 22 december 2017 15:10

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Global Stainless steel production in 9M of 2017 up by 7.4pct YoY - ISSF
Steel News - Published on Fri, 22 Dec 2017

The International Stainless Steel Forum (ISSF) has released figures for the first nine months of 2017 showing that stainless steel melt shop production increased by 7.4% YoY to 36.1 million tonnes.

Voor cijfers, zie de bijlage

Source : Strategic Research Institute

Bijlage:

voda 29 december 2017 13:32

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USCO Stainless Steel complex is back to production after refurbishment from Danieli Service

United Stainless Steel Company, USCO, relied on Danieli Service for resumption of operation at its stainless steel complex located in the Kingdom of Bahrain. Supplied by Danieli in 2007, designed to produce 100,000 tonnes per annum of austenitic stainless steel in 2B and polished finish, the complex was stopped in 2011.

Following a recent agreement between USCO and Chromiumtrade SA, a Swiss company that will procure black coils, manage operations and market the end products, the decision to restart operations was taken.

Danieli Service was engaged to restore the plant to full production providing new spare parts, technical support, refurbishment and the upgrade of key equipment.

The upgrade covered the combined annealing and pickling line with in-line skin pass mill, the 20-high rolling mill, the coil grinding line, and the slitting and cut-to-length lines.

Among the main interventions was the technological upgrade of the pickling line to a more eco-friendly process and improved strip-steering.

Several enhancements were also made to the automation system and to the annealing furnace.

Source : Strategic Research Institute

voda 3 januari 2018 20:30

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Thirteen miners invest USD 5 billion in Indonesia Nickel Smelters

Jakarta Globe reported that thirteen mining companies have invested a combined USD 5.03 billion in the construction of nickel smelters during the first 10 months of this year to comply with Indonesian government requirements.
President Joko “Jokowi” Widodo issued a government regulation earlier last year to amend several articles in a 2010 mining regulation, which now requires miners to process raw materials within Indonesia before exporting them. To do this, miners must build smelters to produce value-added products.

Mr Bambang Gatot Aryono the ministry’s director general of coal and minerals, told reporters that “Our new regulation, issued [by the president] this year, contributes to the value-added nickel products and it has had a positive impact on smelter investment this year.” However, Bambang did not elaborate on the number of smelters that have been built so far.

Processing and Smelting Companies Association data shows that 32 smelters were built between 2012 and 2016 for a total investment of around USD 20 billion. These smelters process iron, nickel and copper.

Meanwhile, 13 companies have started smelter operations between January and October this year, including state-controlled miner Aneka Tambang and nickel producer Vale Indonesia, the local unit of the Brazilian mining giant.

Mr Bambang said these companies produced about 598,000 tonnes of ferronickel and nickel pig iron, in addition to 64,000 tonnes of nickel matte. They produced a combined total of around 34 million tonnes of nickel ore in the first 10 months of this year.

Mr Bambang added that two nickel smelters operated by local miners Cahaya Modern Metal Industri and Indoferro have ceased operations over the past two years, due to lower nickel prices and the high cost of coke since the end of last year.

Coke contributes around 40% of the industry’s total production cost.

Indoferro ceased its smelter operations in on July 19, while Cahaya Modern Metal Industri ceased smelter operations in January last year.

Both companies initially produced iron ore, but shifted to nickel in January 2014.

Source : Jakarta Globe

Bijlage:

voda 5 januari 2018 16:32

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The global downtrend of nickel is set to continue

Mining Review reported that nickel prices are set to unwind in coming months as fundamentals loosen on the back of increased supply from Indonesia and subdued demand from China. This is the view of BMI Research a unit of the Fitch Group.

We have kept our nickel price forecast at USD 10 000/ton for 2018 and expect prices to head lower over our forecast period from 2017-2021 as the global nickel market surplus widens.

Refined nickel prices will continue to lose steam in the coming months as overly-optimistic demand-side expectations from electric vehicle production begin to fade and fundamentals loosen.

A significant rally in prices took nickel from below 9 000/ton in June 2017 to above 13 000/ton in early November 2017, buoyed by a positive demand outlook for use in batteries for the growing electric vehicle market.

However in line with our view, prices have come back down to 11 295/ton and will continue to trend downwards in the coming months dragged by the realization among investors that any significant impact of EV's on demand is still years away.

Further downside pressure on prices will emerge in the short term as the global nickel market shifts into a surplus.

On the one hand, we expect stainless steel demand - which accounts for approximately 70% of all nickel consumption - to wane as the Chinese government shifts policy away from heavy industry.

On the supply side, a loosening of fundamentals will be supported by a rise in Indonesian ore exports flowing into the market for refining following the end of the country's ore export ban in January 2017.

According to Bloomberg high frequency data, Indonesian nickel ore production growth averaged 62% y-o-y over the first nine months of 2017.

Furthermore we are more optimistic on nickel production in the Philippines in the coming months , as an end to the current ban on open-pit mining remains is likely under the new Secretary of Environment and Natural Resources, Roy Cimatu.

Finally, stocks at LME warehouses remain elevated at 379 kt, while LME 3-month nickel futures remain firmly in contango, indicating ample near-term supply.

We expect global refined nickel production will increase from 1.89 Mt in 20 17 to 1.92 Mt in 2018.

This uptick in production will be driven by a recovery in Chinese, Russian and Australian production following a contraction for all these major producers over 2017 and will be aided by an improved price environment since H217.

Additionally, Indonesia's mineral ore export ban moderation in January 20 17 will lead to a significant increase in production growth from the country for the firs t time since 2014.

Indonesia will have the fastest refined nickel output growth rates from 2017-2021, increasing its total production from 43 kt in 2017 to 50 kt in 2021, amounting to average annual growth of 9.4%.

Source : Mining Review

voda 11 januari 2018 16:50

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Taiyuan Iron & Steel leads economic transformation of coal-rich province Shanxi

ECNS reported that a leading stainless steel maker, Taiyuan Iron & Steel Group has said it exported over 1 million tonnes of stainless steel in 2017, up 20% YoY. The company has been part of efforts in China's coal-rich Shanxi Province to push for economic transformation.

Mr Li Guorong an official with the provincial department of commerce said that Over 80 percent of Shanxi's exports are stainless steel and cell phones.

The company said that it produced 4.13 million tonnes of stainless steel in 2017, with a total revenue of CNY 81 billion. It is the best result in 10 years.

Duplex stainless steel produced by the company has been used for the Three Gorges project, the Hong Kong-Zhuhai-Macao Bridge and nuclear power plants in China.

Mr Li said that "Promoting export is an important part of building a new economic system for Shanxi.”

With a quarter of China's proven coal reserves, Shanxi has shut down coal mines to cut excess capacity and improve efficiency in the coal industry.

Source : ECNS

Bijlage:

voda 17 januari 2018 12:42

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Budget Wish List - Remove import duty on raw materials – ISSADA

PTI reported that ahead of the budget, the stainless steel industry has asked the government to remove import duty on ferro-nickel and stainless steel scrap. In its pre-budget wish list, the Indian Stainless Steel Development Association (ISSDA) has sought removal of customs duty on key raw materials used in producing stainless steel. It said "The government had removed customs duty on pure nickel in the last budget, it didn't help the industry much since most of nickel used by stainless steel makers is in the form ferro-nickel. The same relief should now be extended to ferro-nickel.”

The import duty on ferro-nickel is 2.5 percent. The raw material has to be necessarily imported because India hardly has any nickel resources, the association said.

The industry body also said that since all the stainless steel is produced through electric furnaces, stainless steel scrap is the main raw material which also provides cost effective source of alloying elements like chrome and nickel.

The scrap is also not available in the country and has to be imported, the body said, asking the government to bring the customs duty for stainless steel scrap to zero from 2.5 percent at present.

ISSDA President KK Pahuja said, "It is absolutely necessary to preserve competitiveness of Indian stainless steel industry at a time when government is building new trade relations with other countries and we appeal to the Finance Ministry to remove basic custom duty on both ferro-nickel and stainless steel scrap."

Source : PTI

voda 18 januari 2018 12:37

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US DoC confirms anti dumping duties on stainless steel flanges from China and India

US Secretary of Commerce Wilbur Ross announced the affirmative preliminary determinations in the countervailing duty (CVD) investigations of stainless steel flanges from the People’s Republic of China (China) and India, finding that exporters in China and India received countervailable subsidies of 174.73 percent, and from 5.00 to 239.61 percent, respectively. Secretary Ross said “With a 58 percent increase in trade cases initiated since President Trump took office, this Administration has made it a clear priority to defend domestic businesses from unfair trade practices. Today’s preliminary decision allows US producers to receive relief from the market-distorting effects of potential government subsidies while we continue our investigation.”

The Commerce Department will instruct US Customs and Border Protection to collect cash deposits from importers of stainless steel flanges from China and India based on these preliminary rates.

In 2016, imports of stainless steel flanges from China and India were valued at an estimated UDSD 16.3 million and USD 32.1 million, respectively.

The petitioners are the Coalition of American Flange Producers and its individual members: Core Pipe Products Inc. (Carol Stream, IL) and Maass Flange Corporation (Houston, TX).

Commerce is currently scheduled to announce its final CVD determinations on April 3, 2018, and May 29, 2018, for China and India, respectively.

Source : Strategic Research Institute

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