Global Trade And Economic News: Canada Adds Duties To Certain Steel Bar Products While India Revokes Them
- On February 4, the Canada Border Services Agency (CBSA) announced a preliminary dumping determination for steel reinforcing bar imported from Algeria, Egypt, Indonesia, Italy, Malaysia, Singapore, and Vietnam. The provisional penalties took effect immediately. Click here for more information.
- As Reuters reported, the government of India has announced that it will revoke anti-dumping duties on imports of alloy-steel bars, rods, and flat steel products coated or plated with aluminum or zinc until September 30, 2021. The change took effect on February 2, 2021. China, Vietnam, and South Korea are the major exporters of these products. India also announced that it will cut duties on semi-finished, flat, and long products of non-alloy, alloy, and stainless steel to 7.5 percent from rates that were as high as 10 percent to 12.5 percent.
- As FastmarketsAMM (subscription required) reported, the China Iron and Steel Association has announced that finished steel production rose in the final 10 days of January from the preceding 10 days. Output for crude steel rose 1.9 percent; finished steel advanced 6.6 percent; and hot metal production increased 2.1 percent.