Final Thoughts
Final Thoughts
Written by John Packard
December 4, 2017
Late this afternoon, the U.S. Department of Commerce released their positive determination that Vietnam and China circumvented existing antidumping (AD) and countervailing duties (CVD) on cold rolled and corrosion resistant (galvanized/Galvalume) steels. This is a significant ruling and will create issues for some trading companies and steel buyers as the ruling goes back to November 2016 in order to collect duties.
The bigger story may well be the definition of “significant transformation.” It has been understood to mean that when steel is transformed to another product (hot rolled to cold rolled or cold rolled to coated), the country of origin changes to the conversion country. That rule appears no longer to be in effect, and any country that buys Chinese substrate (or substrate from any country under AD/CVD penalties by the U.S.) will need to worry how their business could be impacted in the coming months.
We will have much more later this week about the circumvention ruling and how it may (or may not) impact your business.
I am also working on articles gathered during my stay here at the HARDI annual meeting. I will post articles about statements made by Economist Alan Beaulieu of ITR Economics, information garnished from the Majestic dinner where they spoke about the Jobs Creation Network, and my general comments about the industry.
I will be flying back to Florida most of the day tomorrow (Wednesday) and will return to my office on Thursday morning.
As always, your business is truly appreciated by all of us here at Steel Market Update.
John Packard, Publisher
John Packard
Read more from John PackardLatest in Final Thoughts
Final Thoughts
And just like that, we’re wrapping up the last SMU newsletter of 2024. We’re closing out our 19th year and looking with wide-eyed anticipation to what 2025 will bring.
Final Thoughts
SMU looks back at stories from Decembers past, one, five, 10, and 100 years ago.
Final Thoughts
It's that time of year again. You know, that time when people wonder if those things are drones in New Jersey or if the aliens are ready to come onto the stage just in time for Inauguration Day. What will that do for steel price volatility? In any case, the SMU team finds itself in Pittsburgh this week.
Final Thoughts
The Community Chat last Wednesday with ITR economist Taylor St. Germain is worth listening to if you couldn’t tune in live. You can find the replay and Taylor’s slide deck here. You can also find SMU reporter Stephanie Ritenbaugh’s writeup of the webinar here. Taylor is Alan Beaulieu’s protégé at ITR. Many of you know Alan from his talks at SMU Steel Summit. I found Taylor’s analysis just as insightful as Alan’s.
Final Thoughts
Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds on the deal.