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voda 6 november 2024 08:35

India Shields Domestic Steel Industry with New Anti-Dumping Duties on SS Pipe Imports

Synopsis: Finance Ministry imposes anti-dumping duties ranging from $246-307 per metric ton on welded stainless-steel pipes and tubes from Thailand and Vietnam following DGTR investigation.
Wednesday, November 6, 2024

The Indian Ministry of Finance has taken decisive action to protect its domestic steel industry by implementing anti-dumping duties on welded stainless-steel pipes and tubes imported from Thailand and Vietnam. The measure, announced through Notification No. 23/2024-Customs (ADD) dated November 4, 2024, comes in response to findings of price dumping that has adversely affected local manufacturers.

The Directorate General of Trade Remedies (DGTR) conducted a comprehensive investigation covering the period from April 2022 to March 2023, which revealed significant price dumping practices by exporters from these Asian nations. The investigation was initiated following complaints from prominent industry bodies, including the Delhi-based Stainless Steel Pipe and Tubes Manufacturer Association and its Gujarat counterpart, representing a substantial portion of India's domestic production capacity.

Voor meer, zie link:

www.oreaco.com/steel/india-shields-do...

voda 15 december 2024 12:11

Worldwide Stainless Completes US$95 Million Acquisition of Bahru Stainless, Reviving Key Malaysian Facility

Synopsis: Worldwide Stainless has successfully acquired Bahru Stainless Sdn Bhd for US$95 million, with plans to rejuvenate the Malaysian stainless steel producer. The company aims to position Bahru as a global leader in cold-rolled stainless steel production, focusing on sustainability, innovation, and vertical integration.
Saturday, December 14, 2024

Worldwide Stainless has officially completed its acquisition of Bahru Stainless Sdn Bhd, investing US$95 million to breathe new life into the Malaysian stainless steel plant. As of today, Bahru Stainless resumes full operations under the guidance of experienced leaders such as Danny Tan and Datuk Tan Kak Seng, with plans to restore the facility as the sole producer of cold-rolled stainless steel in Malaysia.

The acquisition is a strategic move to boost the company’s vertical integration, ensuring efficiency, sustainability, and global competitiveness. The plant, located in Pasir Gudang, Johor, has the capacity to produce 300,000 metric tons annually, but the focus in the short term will be on stabilizing operations and improving product quality.

Voor meer, zie link:

www.oreaco.com/steel/worldwide-stainl...

voda 18 december 2024 08:11

Nippon Yakin Kogyo Unveils New High-Performance Cold Rolling Mill to Boost Stainless Steel Production

Synopsis: Nippon Yakin Kogyo, a leading Japanese producer of high-performance alloys and stainless steel, has launched a new cold rolling mill at its Kawasaki works. The mill, which is the company’s fourth in its thin plate production line, enhances productivity and product quality, enabling the production of thinner steel products to meet market demand. Production begins this week following successful test runs.
Wednesday, December 18, 2024

Nippon Yakin Kogyo, one of Japan's premier producers of high-performance alloys and stainless steel, has announced the successful commissioning of its latest high-performance cold rolling mill at its Kawasaki works. This addition marks the company's fourth rolling mill at its thin plate production facility, significantly enhancing its capacity to produce high-quality stainless steel and alloys for a variety of industries.

The new cold rolling mill is designed to increase the overall productivity and efficiency of Nippon Yakin Kogyo’s operations. It will also improve the company’s ability to control the thickness and shape of the stainless steel plates, addressing the growing demand for thinner products with higher precision. The mill is expected to play a pivotal role in enhancing product quality, allowing the company to better meet the needs of its global customer base.

Voor meer, zie link:

www.oreaco.com/steel/nippon-yakin-kog...

voda 19 december 2024 09:07

EAEU Extends Anti-Dumping Measures on Chinese Seamless Stainless Pipe Amid Review

Synopsis: The Eurasian Economic Union has extended anti-dumping measures on Chinese hot-deformed seamless stainless steel pipe while reviewing the duty extension. The investigation follows a petition from Russian manufacturers due to the expiration of previous duties.
Thursday, December 19, 2024

The Eurasian Economic Union has decided to extend anti-dumping measures on the import of Chinese hot-deformed seamless stainless steel pipe, as the Eurasian Economic Commission initiates a review of the duty extension. This investigation follows a petition filed by several Russian steel producers, including Volzhsky Pipe Plant, Pervouralsk New Pipe Plant, and TMK’s Chelpipe, which sought to maintain anti-dumping protections on these products.

The original anti-dumping duty, imposed in December 2019, was set at 15.5% of the customs value for Chinese hot-deformed seamless stainless steel pipes. The measure was due to expire on January 31, 2025. However, in response to the petition, the EEC launched a new investigation on September 25, 2024, to assess the need for a duty extension. As a result, the temporary extension of these duties will remain in place until September 24, 2025, allowing the review process to continue.

This investigation concerns seamless pipes made from corrosion-resistant (stainless) steel, with an outside diameter of up to 650mm, manufactured by hot deformation. These products are classified under several EAEU TN VED codes, including 7304 49 100 0, 7304 49 930 1, and 7304 49 950 9. The goods in question are imported from China into the EAEU, and the investigation aims to assess whether these imports are being sold at dumped prices, which could harm domestic manufacturers.

Voor meer, zie link:

www.oreaco.com/steel/eaeu-extends-ant...

voda 13 februari 2025 07:17

EU investigates Italian stainless coil importers, freezes accounts

An Italian importer of stainless steel coil has had €950,000 ($980,260) of bank accounts frozen by the European Public Prosecutor’s Office (EPPO). The company is currently under investigation for potential customs duty evasion.

Two companies are currently facing scrutiny for allegedly providing inaccurate information regarding the origin of their products to the customs agency in Ferrara. In October last year, the companies declared that 110 steel imports were produced in South Korea when their origin was in fact China.

“By doing so, the companies benefited from customs duty exemptions on goods from South Korea, evading the payment of nearly €2.4 million in additional customs duties introduced by the EU’s 2019 anti-dumping regulation. Further inquiries uncovered an additional 60 import operations carried out by one of the companies under investigation, with the same ‘modus operandi’, causing an estimated damage of €950,000 in customs duties,” EPPO reveals in a note seen by Kallanish.

With the current order, the two companies combined now have more than €3.3 million in frozen assets.

Natalia Capra
|
France

www.kallanish.com/en/news/steel/marke...

voda 20 februari 2025 07:38

Stainless Steel Markets in 2025: Asia's Capacity Overhang & Global Trade Uncertainties

Synopsis: The global stainless steel market in early 2025 has been marked by caution, with Asia's capacity overhang and the U.S. implementing new tariffs. The market has faced pressure due to weak demand in Europe and the ongoing effects of China's overproduction. Despite these challenges, demand for stainless steel scrap may recover later in the year, especially if nickel prices stabilize.
Thursday, February 20, 2025

Voor meer, zie link:

www.oreaco.com/steel/stainless-steel-...

voda 1 maart 2025 11:51

Acerinox's Strategic Transformation: Key Moves, Financial Resilience, & Future Outlook

Synopsis: In 2024, Acerinox demonstrated remarkable resilience amid a challenging market, with strategic acquisitions, divestitures, and a focus on high-value-added solutions. The company successfully navigated geopolitical volatility, raw material fluctuations, and operational disruptions, such as a strike at Acerinox Europa. Acerinox's strategic decisions, including the acquisition of Haynes International and the sale of Bahru Stainless, set the stage for future growth. Despite a drop in EBITDA, Acerinox maintained solid cash flow and positioned itself for a recovery in 2025. The company’s ongoing expansion projects and investments underscore its commitment to long-term success.
Saturday, March 1, 2025

Voor meer, zie link:

www.oreaco.com/steel/acerinoxs-strate...

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