News News

Government Measures Disturb International Stainless Steel Trade

Date: 2018-12-17
Views: 46

The global flow of stainless steel products has been negatively affected by the introduction of new trade barriers, in recent years. MEPS predicts that more disruption is possible.

The imposition of antidumping duties, by the US authorities, severely reduced shipments of stainless steel sheets and coils from China. Subsequently, Section 232 quotas and tariffs restricted imports from many other countries – notably, those in the Far East.

These actions were, clearly, intended to reduce the volume of purchases from overseas suppliers, and create opportunities for US steelmakers to increase their sales, expand production and employ more people. In fact, the major outcome has been price inflation in the domestic stainless steel market, raising costs for US customers. Furthermore, many imported products remain competitive, even after the application of duties or tariffs.

Local market observers believed that the Section 232 measures would be removed, in the short-to-medium term, following the achievement of various trade-related goals, by the US government. This prospect, however, is receding and the controls are likely to remain in place for the foreseeable future.

The European Commission reacted with safeguarding measures, to prevent third country tonnages, previously intended for the US market, from being diverted to the EU. Quotas were introduced, for individual products, for an initial 200-day period, based on recent average import tonnages. Recent figures show that, at the current rate, shipments of several products, including stainless steel bars and wire rod, are likely to exceed the quotas, and, consequently, incur tariffs. Purchasing behaviour is being adapted, accordingly.

Further uncertainty stems from the United Kingdom’s exit from the European Union. The “divorce” agreement, negotiated by the UK government and the EU, has yet to be accepted by the British parliament. Businesses must explore contingency plans.

Related content
  • Hotspot
  • Newest
  • media
To develop the team cohesion and take a break from busy work, Beijing Kewei Jianye Steel Co.,Ltd management team organized the activity- Hiking In Tian Xuan Forest Park during 29th August and 30th Aug...
2020 - 09 - 10
Beijing Kewei Jianye Steel Co.,Ltd Organized week trip to Qinghai Province to Encourage the Staffs who have significant Contribution in 2019. On the Early June, the excellent annual Staffs and Company...
2020 - 06 - 16
Beijing Kewei Jianye Steel Co.,LTD(The Company) invited Company legal Adviser Mr Zhou to train the company staffs t...
2020 - 05 - 29
Due to the Corona Virus has been well controlled in Mainland China, thus to establish a better working environment, The Company organize a spring outing to the Tongzhou Grand Canal Forest...
2020 - 05 - 19
On the 9th of May 2020, Beijing Kewei Jianye Steel Co., Ltd hold a conference about Black Swan Theory. Sp...
2020 - 05 - 11
0086-10-59574230
(24 hours national service hotline)
Copyright ©2010 - 2018 BeijingKewei Jianye Steel CO., Ltd.
Rhinoceros cloud provides enterprise cloud services
犀牛云提供云计算服务
Follow Us:
X

Whatsapp(Tony)

+8618678022600

电话(Leo)

+8613370170607

1

QQ设置

  • Anita
3

SKYPE 设置

4

阿里旺旺设置

6

Leo

手机关注微信

展开