[Corinth Pipeworks Lands $200-250 Million Rovuma LNG Line Pipe Deal]

[Indonesia] Billet prices are currently stable at around 480 USD/metric ton FOB. The situation is similar for other products, whose prices have also remained stable. This is due to the absence of any significant factors or variables capable of triggering price changes. Buyers are still waiting to see how the situation develops, while no steel mills have lowered their prices yet, as raw material costs may be hindering such a move. The only change is a water shortage in Indonesia, which may now be affecting logistics, as there are reports that this is causing shipment delays until December. This is likely to become a strategy used by steel mills to attract customers, as it is unlikely they will raise prices again given that market prices are already considered high. If the situation worsens, export freight costs will rise, which will inevitably lead to an increase in FOB prices, or the delivery will be postponed again.

The European Commission has initiated a third expiry (sunset) review of the anti-dumping measures on certain pre- and post-stressing wires and wire strands of non-alloy steel (PSC wires and strands) originating in China, following a request submitted by the European Stress Information Service (ESIS) on behalf of the EU industry. The measures, first imposed in 2009 at a duty rate of up to 46.2% and last extended in 2021, are being reviewed amid claims that their expiry would likely lead to a recurrence of dumping and injury to EU producers. The applicant points to significant spare production capacity in China and the attractiveness of the EU market in terms of both size and price.