8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
37.42 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.07 TRY Interest Interest
75.11 USD Fossil Oil Fossil Oil
32.50 USD Silver Silver
4.45 USD Copper Copper
102.15 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,026.19 TRY Gold (gr) Gold (gr)

Alacero Proposes to Develop a Permanent System

Unfair trade in steel due to damping and steel tariffs continues to pose a major threat to regional steel trade...

Alacero Proposes to Develop a Permanent System
The Latin American Steel Association (Alacero) said the world steel industry is currently undergoing major structural changes, which is affecting Latin American steelmakers and that following a major upswing in 2017, the regional steel market is facing a high-risk scenario. For the most part, China is behind overcapacity problems and protectionist and countermeasures in various countries around the world. The steel trade body, LatAm, has called for collective action by regional governments to ensure fair trade space in the regional steel market.
According to the Organisation for Economic Co-operation and Development (OECD) estimates, global steel capacity stands at around 600 million tonnes, led by China. To date, no solution to this problem has been found. On the other hand, the announcement of new capacities also makes the issue worse.
The trade defense mechanisms implemented by the World Trade Organization (WTO) have not yielded positive results so far. This has led to the development of various trade barriers that tend to deform global steel trade. Alacero noted that these barriers will create a trade divergence that will affect the Latin American steel market.
According to Alacero, coordinated action by governments and industry is needed to address the issues facing the global and regional steel industry. Further strengthening WTO trade defense instruments and an effective customs monitoring system will help minimize trade routing. Moreover, Latin American governments need to work together to present a common defense in international forums where industrial issues are discussed. Alacero also recommends the development of a permanent system for monitoring the industrial situation in the main countries.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Saudi Arabia expands mining sector with 28 new licenses

Tuesday, November 5, 2024

Middle East steel markets show different trends in light of 2024 developments

Tuesday, November 5, 2024

India’s steel production increases, exports and imports remain imbalanced

Tuesday, November 5, 2024

Appointment from Dealer Holding! Mehmet Fatih Gökçe became CSO

Tuesday, November 5, 2024

China's steel demand expected to increase: PMI data support production

Tuesday, November 5, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now