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U.S. dumping decision bad news for U.S. Steel, analyst says-金属板材展-线材展-金属加工展-2015第十六届广州国际金属板材、棒材、线材及金属加工、配套设备展—全球三大金属展之一巨浪展览-THE 16th GUANGZHOU INTERNATIONALPLATEMETAL, BAR, WIRE, METAL PROCESSING & SE
9/12/2014 金属板材展-线材展-金属加工展-plate metal expo-wire expo |
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The U.S. Commerce Department has announced that Turkey has not been dumping rebar and will not impose duties on it, and Axiom Capital thinks it is bad news for U.S. Steel (X -0.7%).
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Axiom says it is difficult to imagine U.S. steel mills successfully arguing that dumping is occurring against the current macro backdrop when U.S. HRC spot prices are sitting at a $93, $63 and $18 premium to Chinese, EU and Turkey HRC spot prices.
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The firm continues to believe the rally in U.S. Steel is based several misconceptions by the market (earlier).
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A group of five U.S.-based steel producers, including Nucor (NUE -0.9%) and Commercial Metals (CMC -2%), sued last year, accusing Turkey and Mexico of essentially undercutting U.S. prices to grab sales and market share; the U.S. confirmed duties on Mexican material of up to 66.7%.
金属板材展-线材展-金属加工展-2015第十六届广州国际金属板材、棒材、线材及金属加工、配套设备展—全球三大金属展之一巨浪展览-THE
16th GUANGZHOU INTERNATIONALPLATEMETAL,
BAR, WIRE, METAL PROCESSING & SETTING EQUIPMENT EXHIBITION
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