After Elkay Manufacturing “won” on the anti-dumping front recently (with the International Trade Commission [ITC] approving considerable duties on stainless steel sinks from China), steel industry folks were back in Washington, D.C., making their cases against China – but also against the ITC.
According to Reuters, Edward Kurasz, an executive vice president at Allied Tube & Conduit, told Congress to reform the ITC, as it refuses to pass anti-dumping legislation to raise duties on galvanized steel wire and circular weld pipe from foreign nations.
John Ferriola, Nucor‘s president, also spoke on Capitol Hill. He was quoted as saying that last year, steel imports from China rose 17 percent from 2011 and 38 percent from 2010. Both Ferriola’s and Kurasz’s beefs were primarily with the subsidized nature of China’s government-owned-and-run steel industry.
If China’s making 35% more steel than it needs domestically, why should it be pumping cheap imports into other countries, such as the U.S.?
Current Steel, Coking Coal and Iron Ore Prices
The steel billet 3-month price experienced the biggest price decline of the day on our MetalMiner Index, dropping 6.0 percent on the LME to close at $235.00 per metric ton on March 21, 2013. The cash price of steel billet climbed 4.9 percent on the LME to $215.00 per metric ton.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India remained rangebound. Chinese HRC stayed flat. The price of Chinese coking coal was unchanged.
At $625.00, the US HRC futures contract 3-month price finished the market day up 0.8 percent per short ton. The US HRC futures contract spot price remained essentially flat at $609.00 per short ton.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
US Steel Companies Lobby Against Imports: LME Billet Price Drops
Published 03/24/2013, 05:31 AM
Updated 07/09/2023, 06:31 AM
US Steel Companies Lobby Against Imports: LME Billet Price Drops
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.