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Showing posts from December, 2019

White House: still looking forward to finalizing the first phase of trade agreement with China in November

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Hogan Gidley, a White House spokesman, said Wednesday that the U.S. government is still looking forward to finalizing the first phase of the trade agreement with China in November. Earlier in the day, the Chilean government announced that it would not host the informal meeting of leaders of the Asia Pacific Economic Cooperation (APEC) scheduled for November this year. Gidley later issued a statement saying that up to now, there is no alternative place for APEC meeting, but "we look forward to finalizing the first phase (content) of the historic trade agreement with China within the same time frame". Previously, US government officials have repeatedly said that the US side hopes to sign the first phase of a trade agreement with China at the APEC meeting scheduled for November. China's economic and trade teams have maintained close communication with China and the United States, and the consultations are progressing smoothly, a spokesman for the Ministry of Commerce said...

Tata Steel will cut 2500 jobs in Europe

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Tata Steel , India's largest private steel company, could cut about 2500 jobs from underperforming European companies, a quarter of its European employees, livemint quoted NH niuews as saying. According to the agency, most of the layoffs will take place at Tata Dutch steel mills. The report also said the layoffs would save the company $930 million in costs.   A Tata spokesman said, "like all European steelmakers, Tata Steel Europe will continue to face a challenging market environment. As a dumping ground for global excess capacity, the situation in Europe is deteriorating. In June, we launched a transformation program at Tata Steel Europe to strengthen our business. Our goal is to build a more streamlined and efficient corporate structure that sustains the high level of investment we need to succeed in the long term. "   "This plan is being accelerated to improve our performance as soon as possible. We are developing solutions to improve our supply chain, man...

AK Steel's net profit in the first half of 2019 and stainless steel in the United States decreased by nearly

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According to the performance report released by AK steel in the United States, in the second quarter of 2019, mainly due to the expected decline in sales to the automobile market, the shipment volume of flat-rolled steel dropped nearly 3.4% to 1.3914 million tons year on year, but slightly increased by about 0.2% month on month. Among them, the shipment of stainless steel /silicon steel decreased by 10.4% and 4% to 188400 tons respectively compared with the same period. The average selling price in this quarter is 1102 US dollars/ton, up 1 US dollar/ton year on year and down 10 US dollars/ton month on month; the net sales volume is 1680.5 million US dollars, down 3.8% and 1% respectively on month on month basis.   In terms of profit, the gross operating profit (EBITDA) of the quarter increased by about 1.6% and 65% to the US $170.8 million on a month on month basis, the adjusted gross operating profit increased by nearly 2.1% on a year-on-year basis and decreased by about 5.8% to ...

Brazil continues to impose a five-year anti-dumping duty on stainless steel cold-rolled sheets in China

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Brazil has made a final decision on the investigation of the first anti-dumping sunset review of the cold-rolled stainless steel sheet related to China. Brazilian Ministry of Economy issued Decree No. 4.353 on October 2, 2019, deciding to continue levying on laminados planos de a osinoxid Veis austenticos Tipo 304 (304, 304 L e 304H) e de a OS inoxidveis ferr ticostipo 430;0, laminados afrio com, ESU superior igrasa 0, 35 mm, Masa 4, 75 mm] stainless steel cold rolled sheets originating in mainland China and Taiwan. Five-year anti-dumping duties, and no extension of anti-dumping duties on products originating in Germany, Korea, Finland and Vietnam, and termination of anti-dumping sunset review investigations. The products involved are flat-rolled austenite 304 (304, 304L and 304H) stainless steel and cold-rolled ferrite 430 stainless steel with a thickness of 0.35 mm (< 4.75 mm) and tax numbers of Nangong City are 7219.32.00, 7219.33.00, 7219.34.00, 7219.35.00 and 7220.20.90.  ...

Five rolling mills in Pakistan were shut down due to air pollution

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Pakistan's Ministry of Environmental Protection has shut down five steel rolling mills in Lahore, Punjab Province, because of air pollution caused by these mills. Ali Ijaz, deputy director of the EPA, said the steel plants were shut down because they used substandard fuels and emitted too much black smoke. Closed rolling mills include Waqar & Aslam automobile plant, Ideal rolling mill, Fakeer Hussein rolling mill, Sohail rolling mill and Imran Siraj rolling mill.

Mexico initiated the first anti-dumping sunset review investigation on Chinese steel sheets

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On September 27, 2019, the Ministry of Economy of Mexico announced in its official communique that, in response to the application of Mexican enterprise Altos Hornosde Mxico, S.A.B. deC.V., it had decided to launch the first anti-dumping sunset review investigation on Chinese steel sheets (Spanish: placade aceroenhoja). The TIGIE tax numbers of the products involved are 7208.51.01, 7208.51.02, 7208.51.03, 7208.52.01, 7225.40.01 and 7225.40.02. The dumping investigation period of this case is from July 1, 2018 to June 30, 2019, and the damage investigation period is from July 1, 2014 to June 30, 2019. During the investigation period, 33.98% of the anti-dumping duties applied to the products in question in China were still valid. The resolution shall come into force the day after its promulgation.

Tisco Nanocrystalline Soft Magnetic Alloy Tape Enters the field of New Energy Automobile

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The amorphous nanocrystalline soft magnetic alloy tape developed and manufactured by Taigang Electrical Equipment Repair Co., Ltd. has successfully entered the field of new energy vehicles for the use of circuit components of a well-known domestic brand and a foreign brand electric vehicle. It is known that amorphous nanocrystalline material is a kind of high-quality soft magnetic material with the advantages of high permeability, low loss and high magnetic induction. It is mainly used in switching power supply and anti-electromagnetic interference (EMI) filter, wireless charging magnetic isolator, smart meter transformer, leakage protection transformer and other electronic components. Electric vehicles, smart appliances, mobile phone wireless charging equipment and other products preferred materials. The company has been involved in amorphous materials research since 2011. Through continuous technical exploration, it has gradually mastered the core technologies of alloy com...

Vietnam's Ministry of Industry and Trade launched a survey on dumping of imported cold rolled coils related to China

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The Ministry of Industry and Trade of Vietnam launched a dumping investigation on imported cold rolled coils from China. The survey was initiated at the request of domestic manufacturers. Domestic producers in Vietnam believe that China's imports of cold rolled coils have begun dumping at low prices in the Vietnamese market. Many domestic producers believe that the dumping is the main cause of serious damage to Vietnam's steel industry. According to the law, the investigating department will send questionnaires to relevant parties after launching the investigation, collect information and evaluate the suspected contents, including dumping behavior of Chinese export enterprises; loss of Vietnam's steel rolling industry and causal relationship between dumping and loss of cold-rolled steel industry. According to the preliminary investigation results, the Ministry of Industry and Trade may take temporary anti-dumping measures to prevent the act from continuing to cause...