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Mexico Increases Tariffs on Steel, Aluminum, Chemical Products, and Ceramic Products
On August 15, 2023, the President of Mexico signed a decree that increases the Most Favored Nation (MFN) tariffs on various imported products, including steel, aluminum, bamboo products, rubber, chemical products, oil, soap, paper, cardboard, ceramic products, glass, electrical equipment, musical...Read more -
Steel Bussiness Weekly Market Commentary [May 30-Jun 3, 2022]
My Steel: Recently there were many frequent macro positive news, but the policy needs to be fermented in a period of time from its introduction, implementation to actual impact, and considering the current poor downstream demand, the profit of steel mills has been tightened.The superimposed coke ...Read more -
Youfa Steel Bussiness Weekly Market Commentary [May 23-May 27, 2022]
My Steel: At present stage, the overall supply and demand contradiction in the market is not sharp,since the profits of enterprises with too many varieties and short processes are not optimistic, the production enthusiasm of the supply side is currently not high. However, as the price of raw mate...Read more -
Youfa Steel Bussiness Weekly Market Commentary [May 16-May 20, 2022]
My Steel: The recent supply performance of mainstream varieties have increased marginally, especially with the price correction of raw materials, the profits of steel have been restored. However, when we viewed in the perspective of current factory warehouse aspect,the whole factory warehouses we...Read more -
Weekly steel pipe market analysis from Youfa Group [May 9-May 13, 2022]
My steel: Although the performance of factory and social warehouses of most varieties steel is dominated by growth at present, this performance is mainly caused by the inconvenience of transportation during holidays and epidemic prevention and control. Therefore, after the normal commencement ne...Read more -
Weekly steel pipe market analysis from Youfa Group
Han Weidong, deputy general manager of Youfa group: at the weekend, the central bank finally reduced the reserve requirement by 0.25%, breaking the Convention of 0.5-1% for many years. It is very meaningful. The most important thing for us this year is stability! According to the important data r...Read more -
Market analysis from Youfa Group
Han Weidong, deputy general manager of Youfa group said : the current international environment is very complex. The U.S. Department of Defense said in the U.S. Congress that the conflict between Russia and Ukraine will take several years, at least in years. Fauci predicted that the U.S. epidemic...Read more -
Iron ore price collapses below $100 as China extends environment curbs
https://www.mining.com/iron-ore-price-collapses-under-100-as-china-extends-environmental-curbs/ The iron ore price sank below $100 a tonne on Friday for the first time since July 2020, as China’s moves to clean up its heavy-polluting industrial sector spurred a swift and brutal collapse. The Mini...Read more -
China deeply removes rebate on cold-rolled products from August
China cancel steel export rebate for cold-rolled products from August 1 On July 29, the Ministry of Finance and the State Administration of Taxation jointly issued the "Announcement on the Cancellation of Export Tax Rebates for Steel Products", stating that from August 1...Read more -
SteelHome: China Steel Price Index (From July 7th 2020 to July 7th 2021)
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Global construction supply shortage pushing up costs in NI
From BBC News https://www.bbc.com/news/uk-northern-ireland-57345061 A global supply shortage has driven up supply costs and caused delays for Northern Ireland's construction sector. Builders have seen a rise in demand as the pandemic spurs people to spend money on their homes they would norma...Read more -
China removes VAT rebate on steel exports, cuts tax on raw material imports to zero
Transmit from https://www.spglobal.com/platts/en/market-insights/latest-news/metals/042821-china-removes-vat-rebate-on-steel-exports-cuts-tax-on-raw-material-imports-to-zero Cold rolled steel sheet, hot-dip galvanized sheet and narrow strip were also on the list of products that have had the reba...Read more