Mild Steel News Today

Vietnam will impose anti-dumping duties up to 27.83% on some Chinese hot-rolled steel products for 120 days starting March 7. Indian steel is exempt. Vietnam imported nearly 8.8 million tons of hot-rolled steel, mostly from China, during the first nine months of 2022.

Nickel and copper prices declined, while 200 series stainless steel demand surged due to limited imports. The 300 series saw modest improvement despite a cash crunch. Meanwhile, China's dominance in nickel refining and soaring copper imports from Congo reshaped global market dynamics.

South Korea levies temporary anti-dumping duties (27.91%-38.02%) on Chinese heavy plate steel imports used in shipbuilding and construction, impacting nearly 8.2 million tons of rolled products supplied by China in 2024.

Global steel plate prices show mixed trends. Germany stabilizes after a 1% dip, China and Japan hold steady, while US prices rise following Nucor Corp.'s hike. Global steel demand projected to grow 2.5-3.5%.

Tata Steel reevaluates future capex plans exceeding ₹27,000 crore due to low domestic steel prices and Chinese supply glut. Ongoing projects, including a ₹4,000 crore electric arc furnace, remain on track.

SSAB Americas raises heavy plate prices by $100/short ton, effective immediately. This is the third increase in a month, totaling $240/short ton. The company is not accepting May orders.

Steel stocks rallied up to 10% on Friday, led by hopes of safeguard duties against imports and improved Q4 earnings. Tata Steel CEO expects global steel prices to have bottomed out.

Stainless steel futures rebounded to close at 13,230 yuan/mt (+0.38%) on Feb 21, driven by Indonesian nickel pig iron smelter issues and Beigang New Materials' maintenance plans. Spot prices also rose across 300, 400 series.

Western Liaoning's iron ore market held steady, with 66-grade ore at 710-720 yuan/mt. Resumed production and tight supply suggest potential price increases.

Stainless steel prices remain stable, with Nickel and Copper gaining. The 200 series sees strong demand due to import shortages, while the 300 and 400 series show gradual improvement. Experts predict price stability for the 400 series and an upward trend for the 300 series due to currency fluctuations. Meanwhile, Taiwan maintains anti-dumping duties on Chinese and Korean imports.