The Ministry of Commerce on the plight of the steel industry: the best way is to coordinate response.
The Ministry of Commerce held a press conference today. The spokesman pointed out that China still believes that the current global steel industry is plagued by both cyclical reasons. And there are structural problems Situation. The best solution should be a coordinated response to countries to strengthen economic and trade cooperation. These are all better than frequent trade protection measures or other methods that are not conducive to solving the problem.
Foreign media reports Chinese enterprises exports steel to US steel by Vietnamese to avoid tariffs.
Ministry of Commerce response.
Recently the media said the US Department of Commerce and the European Union began to investigate China export steel. Because they want to confirm whether Chinese enterprises through Vietnam to United States for circumvent import tariffs. In this regard, today that the United States has not informed the Ministry of Commerce of the situation. The Commerce Department spokesman pointed out that the overcapacity of steel is a common problem faced by all countries. Hope that countries take positive measures to promote industrial restructuring, rather than artificial barriers for the normal trade.
Hyundai steel third quarter net profit increased significantly.
The third quarter of this year, Hyundai Steel finished steel production of 5 million tons, a slight decline of 1.0%. But still up 5.0%. Among them, the output of long products (including steel and H-beam, etc.) was 1.85 million tons, down by 15.3% quarter-on-quarter but slightly by 0.7% compared with 1.84 million tons in the same period of last year; plate output was 3.15 million tons, up 9.8% 7.7%.
South Africa make a preliminary ruling on imports of cold-rolled steel and other steel products.
On November 4, 2016, the South African International Trade Commission (ITAC) issued a notice on imports of cold-rolled steel and other steel products. The announcement said the relevant products to the Southern African customs union import surge,The alliance industry suffered serious damage, there is a causal relationship between import surge and tariffs. So The South African International Trade Commission decided not to take interim measures.
CVRD third quarter net profit shrank nearly half.
In the third quarter of 2016, CVRD produced 92.09 million tons of iron ore (including iron ore purchased from third parties, excluding Brazilian Samarko), up 6.1% MoM (5.27m tonnes) A slight increase of 1.5% (1.35 million tons), thanks to: the northern system of mine and factory production performance improvement; Fazenda ~ o iron ore to enable new iron ore crushing equipment; southern system and southeast system production efficiency. From the first three quarters of 2016, CVRD ‘s total iron ore production was 256 million ton (including iron ore purchases from third parties, excluding Brazilian Samako), down 0.4% from the previous year.
Anti-dumping again! Mexican Anti-dumping China seamless steel pipe and so on.
November 4, the Mexican Ministry of Economic Affairs International Trade Practice General Administration issued an announcement in the Government Daily, announced The end of the origin of China’s seamless steel pipe anti-dumping review process.
Extend Dumping duty of 5 years, since February 25, 2016 date, the tax rate is still 1252 US dollars / ton.