China Places Duties on Steel

Thursday, January 15, 2004
It appears the battle over steel continues. In the wake of the U.S. lifting its own 20-month tarriff on steel imports late last year, China, the world's top steel importer, has reportedly placed a hefty import duties on high-grade metal used by the shipbuilding sectors, according to a Reuters report. The U.S. lifted its tarriff in the face of a potential trade war over the matter. China reportedly implemented the new tariffs after it concluded that there was dumping of cold-rolled steel by Russia, South Korea, Ukraine, Kazakhstan and Taiwan. South Korea's POSCO, the world's fourth-largest steel maker, will be exempted as Chinese authorities concluded it was not selling its cold-rolled products below market prices, Reuters reported. "The ministry has decided that dumping of such products does exist, and has caused substantial damage," the Commerce Ministry said in a statement on its Web site (http://english.mofcom.gov.cn). China had slapped tariffs of up to 55 percent on cold-rolled steel imports from affected countries, effective immediately, it said. They would last until about September 2008. Beneficiaries in the Chinese steel industry include Baoshan Iron and Steel Co Ltd, Angang New Steel Co Ltd and Wuhan Steel.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Singapore's Marine & Offshore Sector Powering Output

Singapore's first-quarter growth could be revised higher after data on Friday showed unexpectedly strong industrial output in March, double the pace of market expectations,

Gulf Island Fab Reports Q1 2014 Revenue Increase

Houston headquartered Gulf Island Fabrication, Inc. reported net income of $3.5 million ($0.24 earnings per share) on revenue of $134.7 million for its first quarter ended March 31,

Dry Bulk Carrier Newbuilding Orders Surge

Dry bulk carrier newbuilding orders predominate among the contracts reported in the latest issue of the Clarkson Hellas S&P Weekly Bulletin. Dry bulk carriers One

Navy

Cold War Revival? British Military on Guard

UK's Ministry of Defence says that warship HMS Dragon & an RAF Typhoon aircraft have been in contact with their Russian counterparts this week, as follows: The

Cold War Revival? British Military on QV

UK's Ministry of Defence says that warship HMS Dragon & an RAF Typhoon aircraft have been in contact with their Russian counterparts this week, as follows: The

Australian Warship Bags Record Heroin Haul

On the eve of Anzac Day commemorations, Royal Australian Navy (RAN) frigate 'HMAS Darwin' seized and destroyed more than one tonne of heroin. The record 1032

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4105 sec (2 req/sec)