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voda 5 januari 2017 16:55

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Canada imposes duties on rebar imports from Belarus, Taiwan, Hong Kong, Japan, Portugal and Spain
Published on Thu, 05 Jan 2017
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Image Source: www.pgairport.ca/
On January 3, 2017, the Canada Border Services Agency pursuant to subsection 38(1) of the Special Import Measures Act made a preliminary determination of dumping with respect to certain concrete reinforcing bar originating in or exported from the Republic of Belarus (Belarus), Chinese Taipei, the Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong), Japan, the Portuguese Republic (Portugal) and the Kingdom of Spain (Spain).

The subject goods are usually classified under the following Harmonized System (HS) classification numbers (codes):
7213.10.00.00
7214.20.00.00
7215.90.00.90
7227.90.00.90

Note that the HS codes are for convenience of reference only. Refer to the product definition for authoritative details regarding the subject goods.

Provisional duties will now be payable on the subject goods that are released from customs on or after January 3rd 2017.

Zie bijlage

* As a percentage of export price.

Source : Strategic Research Institute

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voda 5 januari 2017 16:56

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Chinese steel companies out of the red in Jan-Nov 2016 - CISA

According to the latest report of the China Iron and Steel Association, China's large and medium-sized steel mills reported profits of 33.15 billion yuan (about 4.77 billion US dollars) in the first eleven months of 2016. That compared to a loss of CNY 52.91 billion in the same period of 2015.

THE CISA report said that of the 99 steel mills tracked by CISA, the average profit margin stood at 1.28% in the said period.

China's manufacturing sector continues to expand, with the official manufacturing PMI, which surveys larger companies, standing at 51.4 in December, lower than the 51.7 in November but above the boom-bust line of 50 for the fifth straight month.

The steel industry still has a long way to go to increase profit margins, said Li Xinchuang, CISA vice-president, adding that this year the industry will continue to cut excessive and outdated capacity.

Source : Xinhua

voda 5 januari 2017 16:57

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US steel imports in December dip 8.6% MoM – AISI

Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis data, the American Iron and Steel Institute reported that steel import permit applications for the month of December totaled 2,648,000 net tons. This was a 9.6% decrease from the 2,930,000 permit tons recorded in November and a 5.6% decrease from the November preliminary imports total of 2,804,000 NT. Import permit tonnage for finished steel in December was 2,069,000, down 3.0% from the preliminary imports total of 2,132,000 in November. For the full year of 2016 (including December SIMA permits and November preliminary data), total and finished steel imports were 32,969,000 NT and 26,248,000 NT, down 15.0% and 16.7%, respectively, from the same period in 2015. The estimated finished steel import market share in December was 26% and is 26% year-to-date (YTD).

Finished steel imports with large increases in December permits vs. the November preliminary included steel piling (up 410%), standard rails (up 164%), oil country goods (up 36%), tin plate (up 27%), line pipe (up 23%), sheets and strip galvanized hot dipped (up 14%) and sheets and strip all other metallic coatings (up 10%). Tin plate (up 15%) had a significant increase in 2016 vs. the prior year.

In December, the largest finished steel import permit applications for offshore countries were for South Korea (238,000 NT, down 12% from November preliminary), Turkey (175,000 NT, down 4%), Japan (133,000 NT, up 34%), Taiwan (125,000 NT, up 46%) and Germany (85,000 NT, down 2%). For full year 2016, the largest offshore suppliers were South Korea (3,780,000 NT, down 22% from the same period in 2015), Turkey (2,435,000 NT, down 14%) and Japan (1,817,000 NT, down 20%).

Source : AISI

voda 5 januari 2017 16:58

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JSPL see demand recovery in Q4 – Mr Ravi Uppal

Mr Ravi Uppal MD & CEO of JSPL said demand recovery is likely in the fourth quarter after the slowdown seen by the steel sector post demonetisation. The slowdown in steel demand was more from the construction and retail sectors, he said. However, the primary steel players may be able to get their act together relatively faster, said Uppal in an interview to CNBC-TV18.

Latha - First up demonetisation what have the last five weeks done to demands for longs typically things which are used in buildings?

A - As expected demonetisation definitely had slowdowns affect, but steel is a very wide segment. There are different products, the products which were relating to the construction sector and the retail sector were affected in particular which is basically rebar, wire rods etc. I would say that the market is trying to come back now. The retail sector is also trying to get their act together and is a new paradigm. I do see that the steel sector has started to recover and I think by early quarter four more or less the recovery should be there. However, one sector which would take little longer to recover is the construction and automotive sector. This is the sector where you have lot of cash transactions. So, therefore they obviously had to change to a new way of working. If you look at the institutional demand, I think the sales have recovered much faster. Therefore, primary players, the steel players they should be able to get their act together relatively fast.

Sonia - Can you tell us a little bit about the steel prices as well? We did see a huge spike up in Chinese steel prices, but what is happening in domestic market? How have steel prices moved over the last couple of months and what is the expectation going ahead?

A - You are quite right, steel prices have risen globally. China has also raised their prices; not only China but across the world prices have gone up. Quite in sync with that the Indian prices have also gone up by Rs 2,500 to 3,000 during the last three to four weeks time. Trigger for that has also been as increase in the price of raw materials like coking coal, pellets, iron ore fines and also alloying materials which also had gone up considerably. So, therefore the primary producers had no choice, but to pass on the increase to their customers. They did it reluctantly, progressively, but the increased had to be passed on to them.

Sonia - What are you looking at in terms of an EBITDA per tonne say in the coming quarters and how much do you think it could increase to compared to the Rs 6,000 that you did in the previous quarter?

A - That EBITDA depends also what is the kind of product profile that company has because the flat products are operating at different EBITDA levels compared to the long products but I would say the EBITDA level will show some kind of improvement. It should be in the range of about Rs 7,500 average. I obviously cannot speak on behalf of everybody because the EBITDA levels depend as to what is the kind of product mix you have.

Source : Money Control

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voda 5 januari 2017 16:59

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ArcelorMittal, CSN and Usiminas raising flat steel prices in Brazil – Report
Published on Thu, 05 Jan 2017

Reuters, citing a steel market source and an analyst, reported that Brazilian flat steel producers have notified distributors they are raising prices of hot- and cold-rolled steel between 8 percent and 10 percent this month. But Cia Siderúrgica Nacional SA, Usinas Siderúrgicas de Minas Gerais SA and the Brazilian unit of ArcelorMittal SA will keep zinc-coated steel prices unchanged.

The price hikes are effective Jan 1, Jan 5 and Jan 10, respectively, the source added.

Mr Thiago Lofiego, an analyst at Bradesco BBI, said Usiminas will likely benefit most from the price hike given its strong exposure to flat steels and the Brazilian market. He wrote "An increase of more than 10 percent for all products and clients would boost EBITDA by around 650 million reais ($199 million).”

Source : Reuters

voda 5 januari 2017 17:02

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Commodity recovery seen continuing in 2017

According to BMO Capital Markets, commodity prices are expected to continue to improve in 2017, driven by supply constraints. The company upped its price forecasts for the year for copper, aluminum, zinc, iron ore, nickel, met coal and steel by 6 to 45%.

BMO said in a report that the commodities are all set for price rises this year with the exception of uranium, gold, silver and platinum.

The report said that "We believe most commodities are moving up the recovery curve. Certainly, a few may have overshot in 2016, so we expect some prices to fade from spot, but the overly bearish sentiment that plagued the entire commodity complex in late 2015 and early 2016 is behind us."

It added that supply constraints, rather that stronger demand, will be the key driver of the recovery.

Copper is forecast to average USD 2.45/lb (USD 5,401/t) in 2017, up from USD 2.25/lb guided for 2016, with aluminum at USD 0.75/lb, up two cents, nickel at USD 5.00/lb, up from USD 4.42/lb, and zinc at USD 1.53/lb, up from USD 0.96/lb.

Iron ore prices will rise to USD 64/t from USD 59/t, with met coal at USD 209/t, up from USD 114/t, HRC steel at USD 610/t, up from USD 524/t and scrap steel up at USD 260/t from USD 229/t.

The Canadian investment bank raised share price targets for 51% of global base and bulk commodities producers by an average of 33% in light of expected price improvements.

Source : BNamericas

voda 5 januari 2017 17:03

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Evraz top brass take some profits from steel rebound

Evraz chairman Alexander Abramov and chief executive Alexander Frolov have together sold over GBP 10 million worth of stock in the steel and mining company.

Mr Ambramov sold 3.2 million shares at a price of 220.89p apiece to bank more than GBP 7.1 million, while Frolov offloaded 1.6m shares at the same price to pocket GBP 3.6 million.

Company founder and former CEO Abramov still has 21.38% of the company's shares, while Frolov, Evraz's former finance director who has held the tiller since 2007, still owns 10.68% of the company's shares.

Last month, Evraz shares hit their highest level in over three and a half years, as Euro steel prices have been driven higher by more aggressive trade policy, pending consolidation catalysts and the push from raw materials costs.

The last update from the company was its third-quarter production report in October, which showed consolidated crude steel output increased by 6.3% and output of steel products, net of re-rolled volumes, up by 5.6%.

Back in August at the company's interim results, Frolov said structural overcapacity remained a challenge for the steel industry and that the company would continue to pursue its cost-cutting initiatives and focus on net debt reduction and refinancing.

Source : Digital Look

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voda 5 januari 2017 17:14

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Gintech to sell solar modules to Taiwanese steel giant CSC

Taipei Times reported that solar cell maker Gintech Energy Corp said that it has inked an agreement to supply 30 MW high margin solar modules to China Steel Corp in Taiwan. CSC, the nation’s biggest steelmaker, plans to utilize Gintech’s solar modules to build solar power systems with annual capacity of 80MW on the rooftops of its factories, offices and warehouses over a three-year period.

Based on the agreement, Gintech is to supply high-efficiency mono solar modules, each generating 290 or 295 watts, to China Ecotek Corp (????), a subsidiary of CSC, the companies said in a joint statement on Tuesday.

CSC is the latest in a slew of local companies unveiling solar installation projects after the government said it wants to boost solar panel installation to an accumulated 20 gigawatts by 2025 as part of its goal to increase the supply of electricity from renewable energy sources to 20 percent of all power generated in the nation, from just 4 percent.

Source : Taipei Times

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voda 6 januari 2017 16:45

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Essar Steel posts 61% QoQ growth in steel production in Q3

Essar Steel India Limited has recorded highest ever quarterly production with a 61% quarter-on-quarter growth in the third quarter ended December 31, 2016.

Source : Strategic Research Institute

voda 6 januari 2017 16:45

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China steel follows base metals higher on spending hopes

Reuters reported that Chinese iron ore and steel rebar prices jumped on Thursday, with iron ore snapping a three-day losing streak, pulled higher by base metals amid renewed hopes that government spending will spur demand from construction and infrastructure.

Non-ferrous metals from copper to aluminium rose after China unveiled late on Wednesday a USD 115 billion railway construction plan that would require massive amounts of wiring and rail track.

The most-active rebar contract for May delivery on the Shanghai Futures Exchange settled up 2% at CNY 2,953 (USD 429.20) per tonne. It hit a six-week low on Wednesday.

Traders continue to focus on Beijing's efforts to crack down on outdated capacity in a bid to curb excess output. On Tuesday, the government said it would impose higher power prices on mills using outdated equipment.

Domestic stocks CUS-STKTOT-IORE remain at 2 1/2-year highs, rising by 90,000 tonnes last week to almost 111 million tonnes.

Rabobank analysts said that "Given stock levels in the country, and supply coming online over the course of 2017, we continue to hold a bearish view towards iron ore.”

A prolonged bout of toxic smog across the north of the country has renewed concerns about slower manufacturing output, forcing hundreds of factories including steel mills to scale down production or close completely.

Source : Reuters

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voda 6 januari 2017 16:47

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Iran and Chinese companies eye steel mill acquisition in Pakistan

The Express Tribune reported that Pakistan government is again starting the process for the sale of financially sick Pakistan Steel Mills whose losses have piled up to PKR 167 billion, says a top government official.

The Cabinet Committee on Privatisation will take up the matter of PSM sell-off in its meeting on January 18 as two investors are willing to acquire the largest industrial unit of Pakistan on long-term lease.

Privatisation Commission Chairman Mohammad Zubair stated this in a meeting of the National Assembly Standing Committee on Industries and Production, presided over by Pakistan Tehreek-e-Insaf MNA Asad Umar on Wednesday.

Mr Zubair said that “We have prepared a lease-based transaction structure for PSM. One potential investor is an Iranian steel company and its team recently visited Pakistan to assess the mill’s worth. The second potential investor is a Chinese company along with a local concern.”

Mr Zubair revealed that the new sell-off structure would be reviewed by the Privatisation Commission Board on January 16, after which it would be put before the CCOP.

If the committee gives the go-ahead, then the Privatisation Commission will invite Expressions of Interest (EoIs) and the process will take 45 days.

Source : The Express Tribune

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voda 6 januari 2017 16:49

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Tangshan city to cut 8.6 million tonne of steel capacity in 2017

Reuters reported that China’s biggest steel producing city, aims to close 8.6 million tonnes of steel capacity in 2017, the local government said on Thursday, part of its efforts to “upgrade” its highly-polluting heavy industrial economy.

Local leaders set the 2017 closure target during an annual economic work meeting this week, according to an announcement on the city government’s website. They also agreed to cut iron smelting capacity by 9.33 million tonnes and shed 1.1 million tonnes of coal capacity.

Before it started shutting down plants in 2014 as part of a regional war on smog, Tangshan in northern China’s Hebei province was producing around 100 million tonnes of crude steel every year, more than the whole of the United States.

The city promised in 2014 to cut 40 million tonnes of crude steel capacity over the 2013-2017 period, and had already closed 31.86 million tonnes by November last year.

Tangshan, about 160 miles from the capital Beijing, has been shrouded in hazardous smog for much of the past two weeks, and it announced a new pollution “red alert” on Tuesday that forced most of its industrial enterprises to suspend operations.

Source : Reuters

voda 6 januari 2017 16:54

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Top 6 crude steel making nations – PMI indicators for December’16
Published on Fri, 06 Jan 2017

Top 6 crude steel producing nations - China, Japan, India, US, Russia & South Korea, accounting for almost 76% share of estimated global crude steel production of 1.6 billion tonnes in 2016, have, all but South Korea & India, posted 50 PLUS PMI reading for December indicating overall improvement in manufacturing conditions although down MoM in China, Japan, US & Russia.

PMI reading above 50 indicates an overall improvement in manufacturing conditions and below 50 an overall decrease.

Commenting on the China General Manufacturing PMI™ data, Dr. Zhengsheng Zhong, Director of Macroeconomic Analysis at CEBM Group said “The Caixin China General Manufacturing PMI was 51.9 in December, up one point from the previous month and the strongest expansion since January 2013. The sub-indices for output and new orders both hit multi-year highs while those for input costs and output charges continued to rise rapidly, underlining sustained inflationary pressure. The Chinese manufacturing economy continued to improve in December, with the majority of sub-indices looking optimistic. However, it is still to be seen if the stabilization of the economy is consolidated due to uncertainties in whether restocking and consumer price rises can be sustainable.”

Commenting on the Japanese Manufacturing PMI survey data, Amy Brownbill, economist at IHS Markit, which compiles the survey, said “The Japanese manufacturing sector ended 2016 on a good footing, with both production and new orders expanding at the sharpest rates seen over the year. The stronger PMI data are in line with the IHS forecasts for IP growth in November and December, with the annual rate of expansion set to hit 3.8% by the end of the year. Manufacturers were also more optimistic towards taking on additional workers, with job creation ticking up to a 32-month high. However, input prices increased at the sharpest rate since July 2015, with panellists mentioning the recent weakness of the yen driving up imported raw material costs.”

Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Economist at IHS Markit and author of the report, said “Having held its ground in November following the unexpected withdrawal of 500 and 1,000 bank notes from circulation, India’s manufacturing industry slid into contraction at the end of 2016. Shortages of money in the economy steered output and new orders in the wrong direction, thereby interrupting a continuous sequence of growth that had been seen throughout 2016. Cash flow issues among firms also led to reductions in purchasing activity and employment. As the survey showed only a mild decline in manufacturing production in the last month of the year, the average reading for the Oct-Dec quarter remained in growth terrain, thereby suggesting a positive contribution from the sector to overall GDP in Q3 FY16/17. With the window for exchanging notes having closed at the end of December, January data will be key in showing whether the sector will see a quick rebound.”

Commenting on the final PMI data, Chris Williamson, Chief Business Economist at IHS Markit said “The manufacturing sector ended 2016 on a buoyant note, with promising signs that growth could pick up further in 2017. The pace of growth signalled by the PMI in December was the strongest for almost two years, and the combination of improving current demand and optimism for a further upturn in 2017 prompted companies to build inventory and boost capacity. The latter was reflected in the largest rise in factory payroll numbers for one and a half years. The upturn is being driven almost entirely by rising demand from domestic customers, with exports stymied by the dollar’s recent surge. The improvement in the survey data raises hopes that the official data will soon likewise show signs of the manufacturing sector’s recent malaise lifting. The latest official data showed manufacturing output stagnant compared to the start of the year, but the December PMI is consistent with production growing at an annualised rate approaching 4%.”

Commenting on the Russia Manufacturing PMI survey data, Samuel Agass, Economist at IHS Markit, which compiles the survey, said “Russia’s manufacturing upturn continued to gain momentum in December, as the sector saw the strongest improvement in business conditions for 69 months. A healthier labour market, substantial production growth and robust domestic demand fuelled economic growth and provided goods producers with the best possible end to 2016. Consequently, this month’s performance capped off the strongest quarter in over five-and-a-half years and was a far cry from the faltering start of the year. Employment returning to growth was a huge boost for the sector and rectified the main negative from November’s PMI data. In fact, job creation was the quickest since March 2011 and highlighted businesses’ intent on supporting this current uptick in demand. Yet with backlogs of work edging closer to stabilisation, firms may be reluctant to add to payrolls at a sharper pace at the beginning of 2017.”

Commenting on the South Korean Manufacturing PMI survey data, Amy Brownbill, Economist at IHS Markit, which compiles the survey, said “The end of 2016 showed signs that the South Korean manufacturing sector had come through the worst of its downturn. Both production and new orders declined at weaker rates, while international demand increased for the first time in five months. Moreover, international demand rose at the sharpest rate in nearly two years, helped partly by the weakness of the South Korean won against the US dollar. However, the weakness of the local currency did not bode well for manufacturers’ costs burdens, as greater imported raw material costs drove up input prices to the greatest extent in over five-and-a-half years.”

Source : Strategic Research Institute

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voda 6 januari 2017 16:57

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China steel manufacturing company wins anti-dumping case

People's Daily Online reported that China Power Transmission a mechanical components manufacturing company based in Meishan, Sichuan province, was among the Chinese companies investigated over anti-dumping and countervailing duties by the US Department of Commerce. The probing was done at the request of TB Wood's, a manufacturer based in the state of Pennsylvania.

The Department of Commerce made its final determination in October 2016, saying that products imported from CPT had been sold in the United States at dumping margins of 13.64% and had received countervailable subsidies of 33.26%.

Mr Xie Delong vice general manager of the company said that "That means at least 100 million RMB-worth of loss, as our company's exports to the US sharply declined following the final determination, adding that the determination might change the industry's future, as CPT is an important leader.”

In June 2016, CPT filed a defense to prove that it had not threatened the US company. It was later proven that many of the company's products were not manufactured by TB Wood's. The probe was deemed invalid under US laws.

Mr Xie said CPT's products made up less than 1 percent of the U.S. market, and could therefore have only limited effects. It is up to American companies to price the products, and therefore no injury was done to the U.S. industry.

Mr Zhang Meng director of the law department of Sichuan Council For The Promotion Of International Trade said that a communication method was set up to help CPT win the lawsuit against TB Wood's. Zhang also said a pre-warning center for economic and trade friction was launched in Sichuan in May 2015, and has taken on nine anti-dumping cases and countervailing duties so far.

China has been the recipient of the largest number of anti-dumping investigations in the world. Besides the U.S., other countries such as South Korea and Brazil have also launched probes into China's chemical, air transport, footwear, iron and steel industries.

Source : People's Daily Online

voda 6 januari 2017 17:00

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ArcelorMittal Kryvyi Rih, Metinvest are largest recipients of VAT refunds in 2016

Interfax reported that the largest recipient of VAT refunds in 2016 was ArcelorMittal Kryvyi Rih, which received UAH 8.03 billion.

According to its data, it is followed by the exporters of oil and other agricultural products Kernel-Trade with UAH 6.8 billion and JSC Cargill with UAH 3.69 billion, as well as two steel plants from Metinvest Group of Rinat Akhmetov: Mariupol-based Illich steel mill with UAH 3.77 billion and Azovstal with UAH 3.46 billion.

The second five largest recipients of VAT refunds for last year includes three other representatives of the mining and metallurgical complex: Poltava GOK with UAH 2.77 billion, Dniprovsky steel combine from ISD Corporation with UAH 2.74 billion and Zaporizhstal integrated into Metinvest with UAH 2.31 billion.

The top ten recipients of VAT refunds in 2016 also includes two agricultural exporters: Suntrade with UAH 2.19 billion and Nibulon with UAH 2.11 billion.

Source : Interfax

voda 6 januari 2017 17:02

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China steel follows base metals higher on spending hopes

Reuters reported that Chinese iron ore and steel rebar prices jumped on Thursday, with iron ore snapping a three-day losing streak, pulled higher by base metals amid renewed hopes that government spending will spur demand from construction and infrastructure.

Non-ferrous metals from copper to aluminium rose after China unveiled late on Wednesday a USD 115 billion railway construction plan that would require massive amounts of wiring and rail track.

The most-active rebar contract for May delivery on the Shanghai Futures Exchange settled up 2% at CNY 2,953 (USD 429.20) per tonne. It hit a six-week low on Wednesday.

Traders continue to focus on Beijing's efforts to crack down on outdated capacity in a bid to curb excess output. On Tuesday, the government said it would impose higher power prices on mills using outdated equipment.

Domestic stocks CUS-STKTOT-IORE remain at 2 1/2-year highs, rising by 90,000 tonnes last week to almost 111 million tonnes.

Rabobank analysts said that "Given stock levels in the country, and supply coming online over the course of 2017, we continue to hold a bearish view towards iron ore.”

A prolonged bout of toxic smog across the north of the country has renewed concerns about slower manufacturing output, forcing hundreds of factories including steel mills to scale down production or close completely.

Source : Reuters

voda 9 januari 2017 16:30

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Tata Steel workers urged to reject unacceptable pension deal

BBC reported that Tata Steel workers have been urged to reject the "unacceptable" pension deal that will be voted on later this month. Plaid AM Adam Price said Tata was being "opportunistic", adding workers should ask it to rethink the offer.

Mr Price told BBC Radio Wales's Sunday Supplement programme: "The economic climate that the steel industry faces in 2017 has been radically transformed. The medium-term outlook has improved and profitability has returned to Port Talbot. In this context it is by no means a forgone conclusion that the Tata steel workers will accept the pension deal on offer to the workers in the union ballot later this month."

He claimed the company was using the events of the last 12 months to pressure workers. He said "In my view the workers would be wise to ask the company to think again, and to come back to the table with a firm guarantee in terms of the employment pact and the investment. It is also inconceivable that such a large and powerful conglomerate should be allowed to walk away from its existing pension liabilities.”

He added "If Tata is not prepared to do this, the company should be nationalised on a temporary basis and talks reopened with those firms that have been waiting in the wings to buy it."

The company made a commitment to secure jobs and production at Port Talbot and its other steelworks in December. It was hoped Tata's deal could bring an end to eight months of uncertainty for thousands of workers who faced losing their jobs when Tata's UK business was put up for sale. The measures included
A guaranteed, minimum five-year commitment to keeping two blast furnaces at the Port Talbot plant
A 10-year £1bn investment plan to support steel making at the site
A commitment to seek to avoid compulsory redundancies for five years
A consultation on replacing the current pension with a "defined contribution scheme" involving maximum contributions of 10% from the company and 6% from employees.

Almost 7,000 people are employed by Tata Steel across Wales, including more than 4,000 in Port Talbot.

Source : BBC

voda 9 januari 2017 16:31

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Steel trader sues 2 DTI execs for graft in rebar import case

Philippine Daily Inquirer reported that a Subic businessman has sued two Department of Trade and Industry officials before the Office of the Ombudsman over the recall of the import clearance on his shipment of Chinese steel bars.

The case arose from the DTI regional office’s Dec. 8 recall of the final import commodity clearance issued on Nov. 29, pending verification that the shipment of 20,025.88 metric tons of deformed steel bars meets regulations.

In a 12-page complaint-affidavit, Mannage Resources Trading Corp president Mr Lawrence Daniel Sy accused DTI Region 3 director Judith Angeles and Bureau of Product Standards (BPS) assistant director Marimel Porciuncula of violating the Anti-Graft and Corrupt Practices Act and the Anti-Red Tape Act.

Mr Sy insisted that the steel shipment already complied with BPS standards and the requirements under Department Administrative Order 05:2008, hence the initial issuance of the final ICC on Nov. 29.

Yet, he said Angeles’ office withdrew the final ICC unilaterally, even as Department Administrative Order 02:2007 required an investigation and a hearing before the penalties can be meted out.

According to the complaint, the Dec. 8 letter recalled the final ICC without stating a clear reason. It noted that a Dec. 14 letter would only later explain that a Nov. 23 report by the DTI Region 3 inspection team found more than 50 percent of the steel bundles had no tags and the steel bars were not stored in a covered area.

But even this was supposedly “belied” by Angeles’ Dec. 1 letter quoting the regional inspection team’s Nov. 23 report that “the said import shipments have been found to be in order.”

The complaint read that “Clearly, there was no issue as regards the quality and standards of the imported shipment as attested by no less than public respondent Angeles.”

For Sy, this was an act that constitutes deliberate manifest partiality or evident bad faith. He added that the reputation of MRTC “had clearly been besmirched” by several news outlets that reported the withdrawal of the final ICC, because the firm received calls from concerned buyers having second thoughts about the quality of its products.

Source : Philippine Daily

voda 9 januari 2017 16:32

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USITC rules for anti dumping duty on CTL steel plates from Brazil, South Africa and Turkey

The United States International Trade Commission determined that a US industry is materially injured by reason of imports of carbon and alloy steel cut to length plate from Brazil,

Source : Strategic Research Institute

voda 9 januari 2017 16:33

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Chinese companies hit with record number of trade dispute cases in 2016

Global Times reported that Chinese companies were the target of a record number of trade dispute cases in 2016, more than half of which involved the steel industry.

China ministry of commerce said that about 27 countries and regions filed 119 trade remedy cases against China-made products in 2016, an increase of 36.8% from the previous year.

A ministry spokesperson Mr Sun Jiwen said that many countries and regions have put restrictions on Chinese products such as photovoltaic panels, ceramic tiles and tires.

There were also a lot of trade disputes involving the chemical engineering and light manufacturing industries, according to MOFCOM.

Mr Sun noted that trade disputes grew politicized last year, and trade remedies tended to be extreme. He added that "Trade remedies are a double-edged sword. Given the sluggish global economy, we hope each country and region will apply trade remedies cautiously."

Mr Sun further said that China would prefer to cooperate with other countries through negotiations to address trade disputes, in order to encourage a faster recovery of the global economy.

Source : Global Times

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