C130
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China continues to produce more steel than the rest of the world, COMBINED
- Thread starter TaiShang
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BoQ77
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steel industry just isn't profitable. use that cheap Chinese steel to build skyscrapers
actually, at 266% of duty, China cold rolled can't sell to US already, I dont know why US increased the rate from 266% to 522% ... LOL
Huan
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Oh, dirty steel manufacturing jobs that will further hurt your already fragile Vietnamese land and its ecosystem.
BoQ77
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Is China steel job not dirty ?
I don't agree with quality part. It more of customer trying to squeeze profit and choose the cheapest. China is called world factories for a reason. I can be sure they are quality steel available and still cheaper than US. It more of the customer trying to maximize profit by choosing the worst.
vtnsx
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Chinese steel has always been low grade and low quality. I used to work in the oil & gas industry and all my clients want to know where the material came from. Yes, that is how serious we are about STEEL grades. We do take it to another level and even conduct our own test.
You would do more harm than good. lol
Chinese steel has death written all over it.
You just can't trust the Chinese. Just like Genghis Khan, he never trusted the Chinese.
steel industry just isn't profitable. use that cheap Chinese steel to build skyscrapers
You would do more harm than good. lol
Chinese steel has death written all over it.
You just can't trust the Chinese. Just like Genghis Khan, he never trusted the Chinese.
C130
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I feel there shouldn't be any duty on Chinese steel coming into the U.S
can make more jobs with that steel than buying noncompetitive U.S made steel.
BoQ77
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Friday, 22 January 2016 | MYT 5:39 PM
Miti completes anti-dumping probe on steel coils from China, Vietnam
All producers and exporters of pre-painted, painted or colour-coated steel coils from China were imposed anti-dumping duties of 52.1%. The Reuters 2013 file photo shows piles of steel coils for export at a port in Yingkou, Liaoning province, China.
KUALA LUMPUR: The International Trade and Industry Ministry (Miti) has completed the anti-dumping investigation on the imports of steel coils from China and Vietnam.
In a statement on Friday, it said the detailed investigation on producers and importers in Malaysia, as well as producers/exporters from the two countries, was in accordance with the countervailing and Anti-dumping Duties Act, 1993.
The investigation was on pre-painted, painted or colour-coated steel coils (PPCCSC) from the alleged countries.
A petition was filed by FIW Steel Sdn Bhd on behalf of the domestic industry producing PPCCSC, who alleged the Chinese and Vietnamese imports were cheaper than the selling price in the domestic market of the alleged countries.
All producers and exporters from China were imposed anti-dumping duties of 52.1%, Vietnam’s Maruichi Sun Steel Joint Stock Company (12.06%), NS Bluescope Vietnam Ltd (34.85%), other producers/exporters (34.85%) while Nam Kim Steel Joint Stock Company is not eligible for any anti-dumping duties.
“The Royal Malaysian Customs will enforce the collection of anti-dumping duties and this measure will be effective for five years, from Jan 24, 2016.
“With the imposition of anti-dumping duties on imports of PPCCSC from the alleged countries, it is expected that the issue of unfair trade practices will be addressed,” Miti said.
Interested parties can have access to the non-confidential version of the public report on the final determination by submitting a written request to Miti. - Bernama
US could still buy cheaper steel from any other on Earth, but China.
Miti completes anti-dumping probe on steel coils from China, Vietnam
All producers and exporters of pre-painted, painted or colour-coated steel coils from China were imposed anti-dumping duties of 52.1%. The Reuters 2013 file photo shows piles of steel coils for export at a port in Yingkou, Liaoning province, China.
KUALA LUMPUR: The International Trade and Industry Ministry (Miti) has completed the anti-dumping investigation on the imports of steel coils from China and Vietnam.
In a statement on Friday, it said the detailed investigation on producers and importers in Malaysia, as well as producers/exporters from the two countries, was in accordance with the countervailing and Anti-dumping Duties Act, 1993.
The investigation was on pre-painted, painted or colour-coated steel coils (PPCCSC) from the alleged countries.
A petition was filed by FIW Steel Sdn Bhd on behalf of the domestic industry producing PPCCSC, who alleged the Chinese and Vietnamese imports were cheaper than the selling price in the domestic market of the alleged countries.
All producers and exporters from China were imposed anti-dumping duties of 52.1%, Vietnam’s Maruichi Sun Steel Joint Stock Company (12.06%), NS Bluescope Vietnam Ltd (34.85%), other producers/exporters (34.85%) while Nam Kim Steel Joint Stock Company is not eligible for any anti-dumping duties.
“The Royal Malaysian Customs will enforce the collection of anti-dumping duties and this measure will be effective for five years, from Jan 24, 2016.
“With the imposition of anti-dumping duties on imports of PPCCSC from the alleged countries, it is expected that the issue of unfair trade practices will be addressed,” Miti said.
Interested parties can have access to the non-confidential version of the public report on the final determination by submitting a written request to Miti. - Bernama
US could still buy cheaper steel from any other on Earth, but China.
C130
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http://uk.reuters.com/article/uk-china-steel-overcapacity-idUKKCN0XA02T
China is facing increasing international pressure to tackle a steel supply glut that has flooded global markets and left beleaguered overseas producers at risk of closure.
China produces half the world's steel but those hoping it will tackle its surplus capacity quickly will be disappointed, despite rhetoric from Beijing.
A steel production glut that has taken years in the making, will equally take years to resolve. The economy is growing at its slowest pace in 25 years and labour unrest is on the rise, a worry for the ruling Communist Party that fears the social unrest that millions of laid off steel workers could bring.
"Closures can not be completed overnight," said a person with ties to China's leadership. "Stability is the top priority."
China's fading economic growth has exposed the huge surplus capacity in steel making, leaving many producers with heavy losses that are adding to already high debts. Many see the solution in exports, which rose to a record in 2015, a major factor dragging global prices down to decade lows.
India's Tata Steel (TISC.NS) has blamed a flood of cheap steel imports, including from China, for a decision to pull out of Britain, putting 15,000 jobs at risk.
On Monday, more than 40,000 German steel workers took to the streets to protest against dumping from China, among other issues such as industry consolidation that they fear will cost them their jobs.
Hillary Clinton, widely expected to be the Democrat candidate in U.S. presidential elections this year, added her voice to the criticism, saying on Monday she would "impose consequences when China breaks the rules by dumping its cheap products in our markets."
"VICIOUS CIRCLE"
Official data shows China's production capacity is just over 1.1 billion tonnes a year although analysts estimate another 100 million tonnes are produced illegally.
RELATED COVERAGE
Underlining the scale of problem facing Beijing, official figures suggest surplus capacity is some 300-400 million tonnes a year and exports in 2015 reached a record 110 million tonnes - about 10 times the annual steel output of Britain.
Although the China Iron and Steel Association and some steel executives have predicted that exports will fall in 2016, Chinese customs data on Wednesday showed shipments soared 30 percent in March from the same month a year ago.
Much of China's production glut was sparked by the country's debt-fuelled stimulus in 2009, when a government-directed 4 trillion yuan ($625 billion) was injected into the economy to ward off the global financial crisis.
The stimulus drove up steel demand by as much as 100 million tonnes in 2009 and encouraged producers to embark on a rapid capacity expansion using cheap credit.
"The steel mills were delighted - they didn't need to die, breathed a sigh of relief and also relaxed their vigilance towards overcapacity," said Liu Zhenjiang, the vice secretary-general of the CISA. "Those years created ingrained bad habits when it came to overcapacity."
China raised hope of a solution in February when it pledged to shut 100-150 million tonnes of old production capacity in five years, but actual production is expected to stay high as Beijing tries to minimise job losses and social disruption.
New plants have continued to come on line, and CISA has warned that capacity would increase further this year.
"The government is understandably very nervous about how exactly they're going to do this," said Geoffrey Crothall, communications director at China Labour Bulletin. "I think eventually pressure will build and they will have to go ahead. But you really shouldn't expect it to happen overnight."
CISA's Liu said existing mills are doing little to curb supply, noting they were trapped in a "vicious circle" in which they ramp up production at the first sign of price improvements.
Many firms engage in "hostile competition", raising production and slashing prices in a bid to outlast rivals, he said.
Government policy initiatives have not always helped either. One target to consolidate 60 percent of capacity in the hands of the 10 biggest steel enterprises helped spur a fevered round of expansions at mid-sized mills desperate to avoid being swallowed up.
"INGRAINED BAD HABITS"
Premier Li Keqiang reiterated on Monday Beijing intended to quicken steps to tackle the surplus production.
But the central government faces strong resistance from many local governments. Dozens of "zombie" mills cling to life thanks to the support of local governments terrified by the prospect of mass unemployment and carrying the steel firms' spiralling debts.
"You're not just shutting down the steel plants, you're shutting down their entire community," said Crothall. "That's why it's so difficult for the government just to put them out of business."
China's bankruptcy mechanisms also present massive challenges. Zhang Wuzong, chairman of Shiheng Special Steel Group, said China's bankruptcy laws offer little protection for executives, who could find their personal assets get frozen.
Xia Nong, head of the industry department of the National Development and Reform Commission, the state planner, said China's "survival of the fittest" mechanism remained inadequate.
"The fit are not strong and the unfit are not eliminated, and bad currency is still driving out good in the steel sector," he said.
(Reporting by David Stanway; additional reporting by Jessica Macy Yu and Ben Lim in BEIJING and Ruby Lian in SHANGHAI; Editing by Neil Fullick)
China is facing increasing international pressure to tackle a steel supply glut that has flooded global markets and left beleaguered overseas producers at risk of closure.
China produces half the world's steel but those hoping it will tackle its surplus capacity quickly will be disappointed, despite rhetoric from Beijing.
A steel production glut that has taken years in the making, will equally take years to resolve. The economy is growing at its slowest pace in 25 years and labour unrest is on the rise, a worry for the ruling Communist Party that fears the social unrest that millions of laid off steel workers could bring.
"Closures can not be completed overnight," said a person with ties to China's leadership. "Stability is the top priority."
China's fading economic growth has exposed the huge surplus capacity in steel making, leaving many producers with heavy losses that are adding to already high debts. Many see the solution in exports, which rose to a record in 2015, a major factor dragging global prices down to decade lows.
India's Tata Steel (TISC.NS) has blamed a flood of cheap steel imports, including from China, for a decision to pull out of Britain, putting 15,000 jobs at risk.
On Monday, more than 40,000 German steel workers took to the streets to protest against dumping from China, among other issues such as industry consolidation that they fear will cost them their jobs.
Hillary Clinton, widely expected to be the Democrat candidate in U.S. presidential elections this year, added her voice to the criticism, saying on Monday she would "impose consequences when China breaks the rules by dumping its cheap products in our markets."
"VICIOUS CIRCLE"
Official data shows China's production capacity is just over 1.1 billion tonnes a year although analysts estimate another 100 million tonnes are produced illegally.
RELATED COVERAGE
Underlining the scale of problem facing Beijing, official figures suggest surplus capacity is some 300-400 million tonnes a year and exports in 2015 reached a record 110 million tonnes - about 10 times the annual steel output of Britain.
Although the China Iron and Steel Association and some steel executives have predicted that exports will fall in 2016, Chinese customs data on Wednesday showed shipments soared 30 percent in March from the same month a year ago.
Much of China's production glut was sparked by the country's debt-fuelled stimulus in 2009, when a government-directed 4 trillion yuan ($625 billion) was injected into the economy to ward off the global financial crisis.
The stimulus drove up steel demand by as much as 100 million tonnes in 2009 and encouraged producers to embark on a rapid capacity expansion using cheap credit.
"The steel mills were delighted - they didn't need to die, breathed a sigh of relief and also relaxed their vigilance towards overcapacity," said Liu Zhenjiang, the vice secretary-general of the CISA. "Those years created ingrained bad habits when it came to overcapacity."
China raised hope of a solution in February when it pledged to shut 100-150 million tonnes of old production capacity in five years, but actual production is expected to stay high as Beijing tries to minimise job losses and social disruption.
New plants have continued to come on line, and CISA has warned that capacity would increase further this year.
"The government is understandably very nervous about how exactly they're going to do this," said Geoffrey Crothall, communications director at China Labour Bulletin. "I think eventually pressure will build and they will have to go ahead. But you really shouldn't expect it to happen overnight."
CISA's Liu said existing mills are doing little to curb supply, noting they were trapped in a "vicious circle" in which they ramp up production at the first sign of price improvements.
Many firms engage in "hostile competition", raising production and slashing prices in a bid to outlast rivals, he said.
Government policy initiatives have not always helped either. One target to consolidate 60 percent of capacity in the hands of the 10 biggest steel enterprises helped spur a fevered round of expansions at mid-sized mills desperate to avoid being swallowed up.
"INGRAINED BAD HABITS"
Premier Li Keqiang reiterated on Monday Beijing intended to quicken steps to tackle the surplus production.
But the central government faces strong resistance from many local governments. Dozens of "zombie" mills cling to life thanks to the support of local governments terrified by the prospect of mass unemployment and carrying the steel firms' spiralling debts.
"You're not just shutting down the steel plants, you're shutting down their entire community," said Crothall. "That's why it's so difficult for the government just to put them out of business."
China's bankruptcy mechanisms also present massive challenges. Zhang Wuzong, chairman of Shiheng Special Steel Group, said China's bankruptcy laws offer little protection for executives, who could find their personal assets get frozen.
Xia Nong, head of the industry department of the National Development and Reform Commission, the state planner, said China's "survival of the fittest" mechanism remained inadequate.
"The fit are not strong and the unfit are not eliminated, and bad currency is still driving out good in the steel sector," he said.
(Reporting by David Stanway; additional reporting by Jessica Macy Yu and Ben Lim in BEIJING and Ruby Lian in SHANGHAI; Editing by Neil Fullick)
BoQ77
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China should use surplus steel and cement to build more skyscrapers and road, and bridges ... in China.
I guess AIIB would give aid to projects in participants by Chinese surplus steel and cement, and unemployed workers, not by cash.
I guess AIIB would give aid to projects in participants by Chinese surplus steel and cement, and unemployed workers, not by cash.
LOGICAL BOSSS
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@C130
Dont get carried away so easily by chinese cheep steel (of course cost far lower then there own costing) this is a very old British trick, First anyhow eliminate your competitors and then rule with monopoly.
Already in many parts of the world steel mills are started closing down, In UK already Tata steel sold its part of business in hopping 1 pound only to some little known company which will not produce steel but regenerate steel by melting the scrap iron in blast furnace only.
In short sighted thinking you will lost your whole steel Industry built in more then 100 years in 2-3 years (Dont be fool if you expecting this Industry will go for vacation till cheep steel is available and again come back immediately when its over
)
and putting USA dependent on china for its steel needs would gona be a unbelievable Blunder for everyone.
I feel India is following a very good strategy to this new global event (for some its blessing and for some its allover), India is keeping its anti dumping duty rates very wisely so that Chinese steel will remain available to Indian market at reasonable rates, this is ensuring not death (Mills) reporting in India at the same time price is very low and reasonable in market . Same time Indian Gov. is earning heavy custom duty from chinese.
Which of course is again going to be invested in Highways and metro projects which again needs STEEL
. Now India also going to implement same on Aluminium sector as well, flooded by Chinese.
Something like this should be follow .
Dont get carried away so easily by chinese cheep steel (of course cost far lower then there own costing) this is a very old British trick, First anyhow eliminate your competitors and then rule with monopoly.
Already in many parts of the world steel mills are started closing down, In UK already Tata steel sold its part of business in hopping 1 pound only to some little known company which will not produce steel but regenerate steel by melting the scrap iron in blast furnace only.
In short sighted thinking you will lost your whole steel Industry built in more then 100 years in 2-3 years (Dont be fool if you expecting this Industry will go for vacation till cheep steel is available and again come back immediately when its over
)and putting USA dependent on china for its steel needs would gona be a unbelievable Blunder for everyone.
I feel India is following a very good strategy to this new global event (for some its blessing and for some its allover), India is keeping its anti dumping duty rates very wisely so that Chinese steel will remain available to Indian market at reasonable rates, this is ensuring not death (Mills) reporting in India at the same time price is very low and reasonable in market . Same time Indian Gov. is earning heavy custom duty from chinese.
Which of course is again going to be invested in Highways and metro projects which again needs STEEL
. Now India also going to implement same on Aluminium sector as well, flooded by Chinese.Something like this should be follow .
Last edited:
AndrewJin
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US really loves China to heart.
A Trump for president will make China stronger than ever.
vtnsx
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@C130
Dont get carried away so easily by chinese cheep steel (of course cost far lower then there own costing) this is a very old British trick, First anyhow eliminate your competitors and then rule with monopoly.
Already in many parts of the world steel mills are started closing down, In UK already Tata steel sold its part of business in hopping 1 pound only to some little known company which will not produce steel but regenerate steel by melting the scrap iron in blast furnace only.
In short sighted thinking you will lost your whole steel Industry built in more then 100 years in 2-3 years (Dont be fool if you expecting this Industry will go for vacation till cheep steel is available and again come back immediately when its over
and putting USA dependent on china for its steel needs would gona be a unbelievable Blunder for everyone.
I feel India is following a very good strategy to this new global event (for some its blessing and for some its allover), India is keeping its anti dumping duty rates very wisely so that Chinese steel will remain available to Indian market at reasonable rates, this is ensuring not death (Mills) reporting in India at the same time price is very low and reasonable in market . Same time Indian Gov. is earning heavy custom duty from chinese.
Which of course is again going to be invested in Highways and metro projects which again needs STEEL
Something like this should be follow .
In fact, Indian steel are better than Chinese steel. Go Bangalore!
BoQ77
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"Everything Is Plunging" - China Commodity Carnage Continues
by Tyler Durden - May 22, 2016 11:59 PM
Hot on the heels of Trumpian-size tariffs imposed by The Obama administration on a desperately glutted and mal-invested steel industry, the entire panic-buying "well the market is always right", "China is recovering" narrative based rally in Chinese commodities has crashed back down to earth with an incredible thud. As one veteran trader in the China commodity markets put it "everything is plunging... except cotton," with Iron Ore, and Rebar down 7% today...
At least one industry executive "got it" - Baosteel's Zhang: "The price rebound is not beneficial to the overcapacity situation.... It will delay the shutdown of (inefficient) capacity."
How right he was...
Dalian Iron Ore has collapsed 30% in a month, down 7% today...
Steel Rebar has crashed 32% in a month, down 5% today... (it seems the brief BTFD support has completely collapsed)...
Hot Rolled Coil -28% in a month, down 6% today...
Makes one wonder what the world's only marginal-buyer-of-crude could do 'retaliate' to a nation imposing tariffs like that which is also dependent on a bounce in oil prices to supports its 'wealth-creating' stock market?
ArcelorMittal sees signs of steel market recovery
The world's biggest steel producer, ArcelorMittal, has narrowed its first-quarter loss and expressed cautious optimism about improving steel markets hit by Chinese excess capacity and a global slump in steel demand.
Unveiling results for the first quarter, the Indian steelmaker said it had been able to reduce its net losses between January and March to $416 million (364.3 million euros), compared with $728 million in the same period last year.
Struggling amid falling iron ore prices and cheap Chinese steel imports, the industry leader said its quarterly results "reflect the very tough operating conditions in the second half of 2015."
ArcelorMittal chairman and chief executive Lakshmi Mittal said in the report the company was currently experiencing a "recovery in spreads in our core markets to more sustainable levels," which it considered as a sign of improving business in the next few quarters.
"This is a welcome development, although given the levels of excess capacity in China the market remains fragile and we must continue to be vigilant and active against the threat of unfair trade," he warned at the same time.
Low growth amid steel glut
China's drive in the past two decades to build up its steel industry has led to massive global overcapacity in recent years, resulting in falling prices and accusations that China sheds its subsidized steel on global markets. In addition, steel demand has slumped globally as economies around the world have been cooling.
European steelmakers have been especially hard hit by cheap imports from Chinese rivals, spurring a number of national governments to press Brussels to erect barriers against Chinese steel imports.
However, ArcelorMittal achieved an increase of 8.8 percent in steel shipments to 21.5 million tons in the first quarter. The positive development made the company confirm its core-profit target of more than $4.5 billion for the full year of 2016.
uhe/cjc (AFP, Reuters, dpa)
by Tyler Durden - May 22, 2016 11:59 PM
Hot on the heels of Trumpian-size tariffs imposed by The Obama administration on a desperately glutted and mal-invested steel industry, the entire panic-buying "well the market is always right", "China is recovering" narrative based rally in Chinese commodities has crashed back down to earth with an incredible thud. As one veteran trader in the China commodity markets put it "everything is plunging... except cotton," with Iron Ore, and Rebar down 7% today...
At least one industry executive "got it" - Baosteel's Zhang: "The price rebound is not beneficial to the overcapacity situation.... It will delay the shutdown of (inefficient) capacity."
How right he was...
Dalian Iron Ore has collapsed 30% in a month, down 7% today...
Steel Rebar has crashed 32% in a month, down 5% today... (it seems the brief BTFD support has completely collapsed)...
Hot Rolled Coil -28% in a month, down 6% today...
Makes one wonder what the world's only marginal-buyer-of-crude could do 'retaliate' to a nation imposing tariffs like that which is also dependent on a bounce in oil prices to supports its 'wealth-creating' stock market?
ArcelorMittal sees signs of steel market recovery
The world's biggest steel producer, ArcelorMittal, has narrowed its first-quarter loss and expressed cautious optimism about improving steel markets hit by Chinese excess capacity and a global slump in steel demand.
Unveiling results for the first quarter, the Indian steelmaker said it had been able to reduce its net losses between January and March to $416 million (364.3 million euros), compared with $728 million in the same period last year.
Struggling amid falling iron ore prices and cheap Chinese steel imports, the industry leader said its quarterly results "reflect the very tough operating conditions in the second half of 2015."
ArcelorMittal chairman and chief executive Lakshmi Mittal said in the report the company was currently experiencing a "recovery in spreads in our core markets to more sustainable levels," which it considered as a sign of improving business in the next few quarters.
"This is a welcome development, although given the levels of excess capacity in China the market remains fragile and we must continue to be vigilant and active against the threat of unfair trade," he warned at the same time.
Low growth amid steel glut
China's drive in the past two decades to build up its steel industry has led to massive global overcapacity in recent years, resulting in falling prices and accusations that China sheds its subsidized steel on global markets. In addition, steel demand has slumped globally as economies around the world have been cooling.
European steelmakers have been especially hard hit by cheap imports from Chinese rivals, spurring a number of national governments to press Brussels to erect barriers against Chinese steel imports.
However, ArcelorMittal achieved an increase of 8.8 percent in steel shipments to 21.5 million tons in the first quarter. The positive development made the company confirm its core-profit target of more than $4.5 billion for the full year of 2016.
uhe/cjc (AFP, Reuters, dpa)
AndrewJin
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Currently Amerios are just too lazy, especially the whites.
They need illegals and boat asylum seekers to do labor work.
I'm just wondering how Trumpish regime will handle that issue.
He has my support.
His policies may scary away all Amerio followers and Americano's slavery tribes.
China will have a closer tie with ASEAN and Europe.
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