【SMM Steel】Morocco to extend safeguard measure on hot rolled coil imports for three years

[SMM Daily HRC Trading] On May 15, the total daily HRC trading volume of sample enterprises across SMM's four cities (Shanghai, Lecong, Tianjin, and Ningbo) was 13,680 mt, down 830 mt DoD (-5.7%), up 16.13% YoY (solar calendar), and down 15.14% YoY (lunar calendar).

【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.