Latest Stainless Steel Related ews

EU anti-dumping measures on hot-rolled stainless steel from Indonesia and China expire this year

According to reports on February 5, 2025, the EU announced that the anti-dumping duties on hot-rolled stainless steel sheets and coils from Indonesia and China (mainland and Taiwan) will expire on October 8, 2025, unless a review procedure is initiated before the expiration.

EU producers can submit a written request within three months before the expiry, providing sufficient evidence to prove that the cancellation of these anti-dumping duties may lead to continued or renewed dumping and damage the European steel industry, prompting the European Commission to initiate an expiry review.

Currently, the anti-dumping duty rates of the three are 17.7% (Indonesia), 57.1%-106.5% (Mainland China), and 4.1%-7.5% (Taiwan, China).

Yongjin will start building a precision stainless steel plant in Thailand to strengthen its influence in Southeast Asia

According to news on February 7, 2025, as one of China's most important stainless steel plants, Yongjin Group will start the first phase of building a 260,000-ton/year precision stainless steel strip mill in Thailand in July after building a single rolling mill in Vietnam. Although it is still some time before it goes into production, Taiwan's industrial sector has already planned to start preparing for Yongjin's new plant in Southeast Asia.

Trump announced high tariffs on imported steel and aluminum products, and trade policy ushered in new changes

According to Reuters, US President Trump plans to announce an important decision today (February 10, 2025) to impose a new 25% tariff on all steel and aluminum products entering the US market. This marks another major adjustment in the Trump administration's trade policy and will further strengthen restrictions on imported metals on the existing basis.

Trump revealed to the media on Air Force One on February 9 that in addition to the new tariff measures to be released, he also intends to announce a series of reciprocal tariff measures later this week, and plans for these measures to "take effect immediately."

Looking back at history, Trump imposed a 25% tariff on steel and a 10% tariff on aluminum during his first term as president, but exempted several key trading partners, including Canada, Mexico and Brazil. His successor, former President Biden, extended this exemption to the United Kingdom, Japan and the European Union.

According to data from the U.S. government and information from the American International Iron and Steel Association, the United States' top steel suppliers include Canada, Brazil and Mexico, followed by South Korea and Vietnam.

It is worth noting that Trump had announced as early as February 7 that he would introduce reciprocal tariff measures against all countries. Politico and Reuters both reported Trump's remarks at the time, pointing out that the measure is expected to be announced within a week and will apply to countries around the world. The move is seen as an attempt by the United States to redefine its international trade relations by strengthening trade measures to better serve its own interests.