In Canada, the United Kingdom and the United States both Hot Rolled and Cold Rolled Steel prices increased during July.
Steel prices stabilized throughout July. This is partly due to an increase in domestic supply, and increased imports. The World Steel Association has reported that steel production for the 65 countries reporting to them was 137 million metric tons (Mt) in July 2014, an increase of 1.7% compared to July 2013. The UK produced 1.0 Mt of crude steel, down by -4.4% compared to July 2013. The US produced 7.6 Mt of crude steel in July 2014, an increase of 2.3% compared to July 2013.
USA: There is a possibility of an anti-dumping suit being filed for light flat rolled steel may factor into the market and potentially push prices higher. The potential trade case is anticipated to include Cold Rolled and Galvanized products from China, India, South Korea and Taiwan.
USA: The US trade commission has announced that it will impose dumping duties on imports from India, Taiwan, Turkey, Ukraine, Vietnam and Korea. These countries stand accused by U.S Steel producers of dumping Oil Country Tubular Goods in the US market. The steel producers welcomed this news, as they have been lobbying for penalties for months.
Canada: Last month, the Canadian government launched an anti-dumping probe into Vietnamese oil pipes.
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