Data: SHFE, DCE market movement (May 15)

【SMM Steel】Morocco's Ministry of Industry and Trade has extended its safeguard measure on HRC imports for three additional years from June 19, 2026, following a sunset review. The additional duty will start at 19% and decrease by one percentage point annually until the measure expires on June 19, 2029. Turkey was not included on the exemption list for developing countries, while South Africa, Argentina, Indonesia, Malaysia, Pakistan, Tunisia, Uruguay, and Venezuela are exempt. Product codes covered include 72.08, 72.11.13, 72.11.14, 72.11.19, 72.25.30, 72.25.40, 72.26.20 series, 72.26.91, and 72.26.99.80.00.

【SMM Steel】The US Department of Commerce issued a final determination in its countervailing duty administrative review, finding that POSCO Co., Ltd. received countervailable subsidies on carbon and alloy steel cut-to-length plate exports to the US during the January 1, 2023 to December 31, 2023 review period, with a final subsidy rate of 3.70%. The rate applies to POSCO's cross-owned entities and its affiliated trading company POSCO International. The determination comes as the US Court of International Trade has remanded certain key issues, requiring Commerce to provide better substantiation on electricity pricing benchmarks and whether carbon allowances constitute "financial contributions". US steelmaker Nucor has appealed the trade court's ruling.