Global Trade And Metals News Of Note: EU Adopts New Measures Against China While Chinese Steel Exports Fall
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- As the China Trade Monitor reported, the European Commission (EC) has adopted definitive anti-dumping measures on imports of aluminum converter foil from China. The duties range from 15.4 percent to 28.5 percent. Read the EC’s decision here.
- According to IHS Markit, purchasing managers’ indices for metals were somewhat softer in December. Output for steel users fell for the first time in 18 months while exports of aluminum dropped at the fastest rate in 17 months and output and new orders for copper fell for the first time since June 2020.
- Argus Media reported that China’s steel exports fell three percent from October 2021 to November 2021 and 0.8 percent year-over-year. China had tightened polices to limit exports before reopening its export window in November. It also cancelled value-added tax rebates for exports of cold-rolled coil, hot-dipped galvanized, steel coil and sheets, electro-galvanized steel coils and sheet, silicon steel, and rail steel.