AL Circle’s Post

If the EC wants green steel then it will have to stop imports and provide more aid! By AlanPatrickRyan December 5, 2024 The EC steel producers, led by ArcelorMittal, hosted the EC Competition Commission and said enough is enough. The steel producers want to stop all imports of nongreen steel and even place safeguard measures on imports of green steel from non-EU mills. The safeguards would allow a certain tonnage of green steel and if the quotas are exceeded tonnage would be subject to high duties—more than 50%. In addition, the EC steel producers want further government assistance, e.g., money, for green steel. The EC mills said they stopped all spending on green steel measures and won’t resume put any more money into green steel unless the EC gives them what they want. “You (the EU) want green steel then we need more money and need to stop imports,” one producer explained. "The EC has to walk the walk not just talk.” The proposal is similar to the EC ferroalloy producers demands.

📣 Another large inflow of aluminum was reported by the London Metal Exchange May 14...If we can assume the re-warranting of some of these tonnages is linked to the new sanctions introduced by the UK last month, the fresh deliveries raise more questions. 📣 COTR update: Investors have lost appetite in LME aluminum as price declined: This latest report is interesting because this is the first time we see a reduction in long positions since the middle of February – well before the price started to rally. This suggests investors start to believe prices may have reached a peak as we are now over $200/t lower than the recent peak of $2,752.16/t reached May 1. 🔗 Read the full article by CRU's Guillaume Osouf here: https://lnkd.in/eMjntbn5 #recycledmaterial #scrap #aluminum #news #import #lme

Interesting. I've been tracking CBAM for a while but hadn't noticed that this first gen included glass fibre. Glass fibre is an 'adjacent' compositing material to Carbon Fibre, which does not fall within the first gen of CBAM. We steer clear of glass fibres because there isn't a reliable source of recycled glass fibre, so no low carbon option, whereas we have a low carb version of CF. So presumably we're going to see carbon emissions-based tariffs on the import of glass fibre, which is a bu**er for those using it in their 3D printing filaments and pellets but less of an issue for us. #sustainablematerials #netzero #carbonemissions

IMPACT OF #BUDGET2024: #GOLD PRICES PLUMMET BY ₹4,000 PER 10GM! Is now the right time to #investingold? Read on to find out! Following the #UnionBudget's 6% cut in #customsduty, #gold and #silver prices have seen a significant drop. Gold prices have fallen by up to ₹4,000 per 10gm, making it an attractive #opportunity for #investors. Read the full article here: https://lnkd.in/dP6DFyyh #DigitalGold #GoldInvestment #VGold

The Canadian Institute of Steel Construction (CISC) has been working tirelessly to ensure that the voices of our members are heard and that our industry continues to thrive. I’m excited to share a brief summary of this advocacy work. 🔹 𝗣𝗼𝗹𝗶𝗰𝘆 𝗘𝗻𝗴𝗮𝗴𝗲𝗺𝗲𝗻𝘁: Advocating for fair and sustainable policies that benefit the steel construction industry, including regulatory changes that support innovation and sustainability. 🔹 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗥𝗲𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻: Representing our members’ interests at various government levels, with a focus on the “𝗙𝗼𝗿𝘁𝗿𝗲𝘀𝘀 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮” concept, emphasizing a strong, self-sufficient steel industry for national security and economic resilience. 🔹 𝗖𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝘃𝗲 𝗘𝗳𝗳𝗼𝗿𝘁𝘀: Partnering with other industry organizations to strengthen our advocacy efforts and create a unified voice for the construction sector. 🔹 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀: Promoting the importance of steel construction through educational campaigns and resources, highlighting its benefits for sustainable and resilient infrastructure. We appreciate the Canadian Steel Producers Association (CSPA) and their recent statements on the importance of a robust steel industry in Canada. Check out their page here for more insights: https://lnkd.in/gS6XigEb For more details, feel free to reach out to me directly. Stay tuned for more updates as we continue to champion the interests of the steel construction industry! 💪🏗️ #CISC #Advocacy #SteelConstruction #IndustryLeadership #SustainableConstruction #FortressNorthAmerica

#TradeNews 🚨The CBSA has concluded its expiry review of the dumping and subsidizing of carbon steel welded pipe from China. Read the full story here. https://hubs.la/Q02HjjXx0

The #IndianChamberofCommerce has urged the Centre to establish a commission to review and simplify the Income Tax Act 1961, which has become complex due to annual amendments. This complexity has led to numerous legal cases. The chamber also proposed a revamp of #customs duties in strategic sectors like #steel, #solar, #aluminium, and #lithiumionbatteries to boost domestic manufacturing. Ahead of the annual budget presentation on July 23, #ICC President emphasized the need for a "comprehensive #rationalization" of customs duties to position India as a global manufacturing leader. He highlighted the unfair burden current levies place on domestic players, particularly downstream #businesses, and suggested lowering the tax on liquefied petroleum gas (#LPG) from 5% to 2.5%. To support domestic manufacturing, he called for raising duties on #polymers such as #PVC, #PET, #PP, and #polyesters to 10%. The president also addressed the aluminium foil sector's struggles, noting the anti-dumping duty on raw materials, while finished goods from #China face no import duties, causing severe losses for the domestic industry.

Huge impact on gold prices. Prices down by Rs 4,000 to Rs 68,625 with a reduction in custom duty to 6%, LTCG rate lowered from 20% to 12.5% and holding period shortened to 2 years from 3 years. #Budget2024 #gold #LTCG https://lnkd.in/gcRr4Su9

Given the changing geopolitical nature of our industry, its always interesting to see how Australian #bauxite, #alumina and #aluminium fit in the global trading context. https://lnkd.in/g-9kmgaS

Navigating Global Steel Market Regulation: How Policies Vary by Country and Affect the Industry https://lnkd.in/dACcUbiQ Steel market regulation is a critical factor influencing the global steel industry, impacting everything from... #steelprice #steel #iron #steelnews #news #steelmarket #market #industrialnews #LME #HKEX #Londonmetalexchange #metal #metalexchange #investment #investing #stock #stocks