The Camping Canuck
The steel rebar industry is apparently facing a major blow from Trump’s latest decision of imposing steep tariffs on imported steel. If reports are to be relied on, the National Committee for Steel Industry of Saudi Arabia (NCSI) has raised a serious concern in this regard, stating that the move might result in a huge steel influx in alternative markets.
Saudi Arabia’s National Committee for Steel Industry (NCSI) has raised concerns that the recent US steel tariff will encourage major steel exporters to dump their products to alternative markets. Trump’s new steel tariff will likely have minor direct impact on Middle East. According to the data from US International Trade Administration, USA imported 74,784 tons of Saudi Arabian origin steel mainly consisted of 68,780 tons of Oil Country Goods Tubular products.
Saudi Arabia’s National Committee for Steel Industry has stated that US President Donald Trump’s recent decision is not expected to have any significant adverse effect on Saudi steel and aluminum exports to the US given their limited volume at the present time, which reached around 150,000 mt in 2017, consisting particularly of seamless steel pipe, galvanized steel and pre-painted steel coils. These products have a large domestic production surplus.
Steel Business Briefing
At a time when protectionism is on the rise in most other regions of the world, Saudi Arabia’s national steel organization said it is considering new trade measures of its own. Steel imports have accounted for 80% of total market consumption in Saudi Arabia in recent years, even as the country has a domestic production surplus of more than 65%, according to Saudi Arabia’s National Committee for Steel Industry (NCSI). In a statement, the group said the situation illustrates the fallout from slow implementation of anti-dumping measures, as the operating capacity of Saudi mills has fallen to 22% of available capacity.
Saudi Arabia’s National Committee for Steel Industry (NCSI) called on Tuesday March 27 for urgent action to be taken against imports being dumped into the country, specifically by raising import duties.
Saudi Arabian authorities must make quicker decisions on implementing trade defence measures, especially with the impending threat of some countries diverting their US-bound exports to Saudi. So says the National Committee for Steel Industry (NCSI) at the Council of Saudi Chambers (CSC).