E-mail : inquiry@ronsteel.comPhone : +8615308477503
We are committed to providing one-stop service for steel pipe products to customers around the world.
In January, China issued government bonds totaling 693 billion renminbi, more than double the amount issued in the same month last year. This indicates a heightened effort to bolster the economy. Concurrently, local governments are purchasing properties from distressed developers, signaling a potential stabilization of the construction sector, which consumes large amounts of steel. Major mining companies are already anticipating that China's recovery and global interest rate cuts will drive demand for industrial metals.
As a result of these policies, commodity prices have started rising due to expectations of increased demand. Futures on the Shanghai Futures Exchange (SHFE) for hot rolled coil (+0.68%), stainless steel (+0.34%), and copper (+0.38%) have all seen gains. Iron ore prices on the Dalian Commodity Exchange (DCE) have also risen by approximately 0.86% today.
Taiwan Extends Anti-Dumping Duties on Certain Cold-Rolled Stainless Steel Products
On Tuesday, the Trade Remedy Commission of Taiwan’s Ministry of Economic Affairs (MOEA) announced that it would likely maintain anti-dumping duties on certain cold-rolled stainless steel products from China and South Korea, stating that lifting these duties could result in harm to the domestic industry.
The affected products include flat-rolled stainless steel from the SUS 300 series, including grades SUS301, 304, 304L, 316, 316L, and 321. Taiwan has imposed anti-dumping duties on these imports since 2013, and the continuation of these measures was confirmed in the second sunset review by the Ministry of Finance (MOF) and MOEA.
CBAM: Small Group of Importers Account for Nearly 99% of CO2 Emissions
The European Commission (EC) is facing issues with data security, as important documents and sensitive internal texts have been leaked to the press in recent months. One such leak involved details of ‘The Clean Industrial Deal: A Joint Roadmap for Competitiveness and Decarbonisation,’ which is set to be presented in the coming days.
EC: Improving the Carbon Border Adjustment Mechanism (CBAM)
A key point in the report highlights the need to improve the Carbon Border Adjustment Mechanism (CBAM). According to the data collected thus far:
"Only a small number of importers account for nearly 99% of the greenhouse gas emissions embedded in imported goods. The Commission proposes simplifying CBAM substantially to reduce the administrative burden on industries and their supply chains, while continuing to incentivize global carbon pricing. This is an important first step in enhancing the effectiveness of CBAM."
CBAM Bureaucracy Must Be Halted Immediately
This finding should be a clear signal that the bureaucratic and administrative load imposed by CBAM is harming the competitiveness of small and medium-sized enterprises (SMEs) in Europe. The implementation of CBAM must be suspended immediately, with a focus solely on the importers responsible for these CO2 emissions, likely within the sectors that CBAM is designed to protect, such as European producers of steel, aluminum, cement, fertilizers, and hydrogen.
