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August US scrap surcharge benchmark down

August US scrap surcharge benchmark down $45/l.ton

A key scrap price that determines surcharges for August deliveries of many steel products in the US market fell by $45 – from $350 to $305 per long ton, Steel Business Briefing learns.

As SBB has previously reported, scrap market players had been expecting a drop in scrap prices due to especially weak export demand.

Source: Business Briefing

Will US retaliation to China business practices help US producers

The U.S gov’t last month imposed large tariffs of 42.61% to 289% charging the Chinese were dumping wire decks in the US.market.

Response : Government puts tariffs on imported wire but at who’s expense?

Government intervention into the free markets has a dismal & destructive track record.
Nobody ever wins a trade war.  Call it what you will, price controls, tariffs, import taxes, price freezes etc.

Always instituted for ” noble reasons” yet, in reality,  they’re just another means for government to justify picking winners and losers in the marketplace.

Tariffs will result in retaliation from the other side.  This is nothing new.  This is how trade wars start.

China will now retaliate with some measure of their own and the industries that feel the brunt of that retaliation then must suffer for no fault of their own.

In the end nobody wins and business suffers.  What do you think?

Save Time with RSS

Introducing RSS

What is RSS?

RSS stands for “Really Simple Syndication”. At it’s most basic form, it’s a standard for distributing content to a wide number of people quickly and easily.

Why should I care?

Most web users who are interested in many sites or topics must repeatedly visit each individual site they follow.  These sites are updated at random and can often require daily visits to stay on top of the most recent updates.  This can become very tedious.

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Europe trade groups condemn iron-ore price demands

LONDON (MarketWatch) — European trade groups Eurofer, which represents steelmakers, and Orgalime, which represents industrial firms, said they “condemn” attempts by iron-ore producers BHP Billiton, Rio Tinto and Vale to increase prices by 80% or more. Vale this week reached a deal with Japanese steelmakers to up prices by 90%. The trade groups said the miners already have profit margins of up 50% per metric ton and that the price increases may place in jeopardy the fragile recovery of the manufacturing industry.

Market predicts March scrap prices to rise

March’s US scrap market could be “coming in like a lion” with strong prices, one Mid-Atlantic states scrap dealer tells Steel Business Briefing.

“By all accounts the mills have strong order books, and are projecting good business. On the other side, incoming scrap has been severely impacted by the weather, as has transportation, especially rail service. The result will be an up market for scrap-probably a significant ‘up,'” he believes.

Cutting Prices During a Recession – Good or Bad Idea?

Should you cut your prices to increase sales  during a recession?

Let’s Check the Math

FACT: If you cut prices by 20%, you have to sell 25% more units just to maintain revenue(break even).

During good times, a 25% increase in sales volume is asking a lot.  In a recession, the math says it’s self induced suicide for almost all who try.

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US imposes duties on imports of wire decking from China

The US government slapped preliminary anti-dumping duties on imports of more than 300 million dollars worth of wire decking from China, the Commerce Department said in a statement on Tuesday.

The department claimed that it found dumping of wire decking from China after investigation. The tariffs of between 42.61 to 289 percent will be imposed and collected until a final determination is made in the case.

Wire decking reinforced with structural supports is designed generally for industrial and other commercial storage rack systems.

The United States has imposed duties on a variety of Chinese goods including steel pipes, grating and tubular goods based on other investigations.

The wire decking anti-dumping case is another move that might escalate trade disputes between the two major trade players in the world.

Source: Xinhua

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