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US International Trade Commission data for the first half of 2022 shows a shifting of exports from the US, with imports to China growing while imports to Malaysia sharply fell. While other countries also experienced changes in import numbers, exports to Malaysia and China saw dramatic changes to quantities and market share due to changing import regulations over the past several years. ....
Flack Global Metals CEO, Jeremy Flack, is a vocal proponent of using futures and options for price risk management in the steel supply chain. He told Richard Barrett about the strategy behind FGM’s complementary mix of physical steel supply and financial services, how he entered and has prospered in the steel business, and what it takes to succeed as an entrepreneur. ....
Leaders of the Group of Seven (G7) countries have reaffirmed their commitment to fair trade and criticized the use of subsidies that create excess capacity, including in steel and aluminium. In a joint statement issued at the virtual G7 Trade Track meeting on May 28, the governments of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States called for the start of talks to develop stronger international rules on market-distorting industrial subsidies and trade-distorting actions by state enterprises. “We reaffirm the importance of the Global Forum on Steel Excess Capacity (GFSEC) as a forum that can help address the issue of global steel excess capacity in a multilateral framework,” the statement said. ....
Import prices for ferrous scrap in Vietnam continued to fall in the week to Friday May 28 due to sentiment weakened by plunging steel prices in China recently. ....