Global News Of Note: China Extends Anti-Dumping Duties On Stainless Steel
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- As Reuters reported, the Chinese government will extend current anti-dumping duties on stainless steel products from certain countries and regions for another five years. Specifically, imports of stainless steel billet and hot rolled stainless steel plate originating from the European Union, Indonesia, South Korea, and the United Kingdom will remain subject to the anti-dumping duties that range from 20.2 percent to 103.1 percent.
- China’s official purchasing managers’ index (PMI) from the National Bureau of Statistics improved slightly to 49.7 in June from 49.5 in May, but was still under the 50-benchmark that separates expansion from contraction. The sub-index tracking production rose to 51, and the reading that tracks new orders increased to 50.2 while inventory and employment levels at factories continued to decline. Those sub-indices come in at 48 and 47.9, respectively. Read more at this link. The Caixin PMI reading for China also rose last month. Read that report at this link.