Nieuws en info hier plaatsen (deel 4)

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CCEA Approves Demerger of Nagarnar Steel Plant from NMDC

India’s Cabinet Committee on Economic Affairs chaired by the Prime Minister Mr Narendra Modi has given its in-principle approval to the demerger of Nagarnar Steel Plant from National Minerals Development Corporation Ltd. and strategic disinvestment of the demerged company Nagarnar Steel Plant by selling entire Government of India stake in it to a strategic buyer.

The CCEA has taken note that the process of demerger and disinvestment will be initiated in parallel and disinvestment of demerged company (NSP) is expected to be completed by September 2021.

Nagarnar Steel Plant is a three million tonne per annum integrated steel plant being set up by NMDC at Nagarnar in Bastar District of Chhattisgarh in an area of 1980 acres at revised estimated cost of INR 23,140 crore. As on date NMDC has investedINR 17,186 Crore on the project out of which INR 16,662 crore is from NMDC's own funds and INR 524 crore has been raised from bond market.

NMDC is a listed CPSE under the Ministry of Steel and Government of India has 69.65 % shareholding in the Company.

Source : STRATEGIC RESEARCH INSTITUTE
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Nithia Capital & CarVal to Close Uttam Value & Metallics Deal in October

Economic Times reported that UK based alternative investment manager Nithia Capital expects to close the acquisition of Uttam Value Steels and Uttam Galva Metallics by the end of October and has identified senior management personnel to run the companies. Nithia Capital founder Mr Jai Saraf told ET “We are making full efforts to close the transaction by the end of this month. Once we close the transaction, our new team will go in. We have identified senior management personnel and they are ready to go in.”

In May 2019, a lenders' consortium led by SBI had initiated insolvency proceedings against two distressed entities of Uttam Galva Steels. The National Company Law Tribunal then approved the CarVal Investors and Nithia Capital Resources Advisors LLP-led consortium’s resolution plan for acquisition of the assets. As per NCLT’s order, Nithia and CarVal were to pay upfront and a contingent payment of INR 1,078 crore for Uttam Value Steels and another INR 1,576 crore for Uttam Metallics. On May 6 this year, a monitoring agency was formed, in which successful resolution applicants Nithia and CarVal along with two members from the bank and one independent member were made responsible for operating the plants.

Uttam Value Steels is an integrated steelmaking company that produces hot rolled coils, cold rolled coils, galvanised coils and sheets and colour-coated products, among other products, with a total capacity of 1 million tonnes per annum.

Uttam Galva Metallics is an unlisted entity that manufactures hot metal/pig iron and has an iron making capacity of 0.60 million tonnes per annum at Wardha, Maharashtra. It is a major supplier of hot metal to Uttam Value Steels Ltd.

Economic Times

Source : STRATEGIC RESEARCH INSTITUTE
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Nippon Steel May Sell Plants in US – Report

Japan Times, citing a company source, reported that Nippon Steel Corp is considering selling off its two automotive steel plants in the US state of Indiana as part of global restructuring given a slump in demand amid the coronavirus pandemic. Source added that “Because its partner ArcelorMittal, which jointly owns a company running the two plants, has decided to sell its share to a US steel-maker, the leading Japanese steel-maker is thinking of following suit.”

With the COVID-19 pandemic dealing a fresh blow to an industry already struggling with fierce competition from Chinese rivals, Nippon Steel had already announced it will close a plant in Kure, Hiroshima Prefecture, by September 2023 to slash costs and improve profitability. The planned massive restructuring to cut back domestic output will result in a reduction of Nippon Steel’s annual output capacity by around 5 million tonnes.

Source : STRATEGIC RESEARCH INSTITUTE
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Tata Steel BSL Reports Strong Profit in Q2 of 2020-21

Tata Steel BSL has posted a consolidated net profit of INR 341.71 crore for the quarter ended September 2020. The company had reported a loss of INR243.97 crore during the same period a year-ago. During July-September 2020, its total income jumped to INR 5,545.35 crore, from INR 4,567.98 crore in the year-ago quarter.

In May 2018, debt-laden Bhushan Steel Ltd was acquired by Tata Steel through its wholly-owned subsidiary Bamnipal Steel Ltd in insolvency proceedings. It was later renamed as Tata Steel BSL.

Source : STRATEGIC RESEARCH INSTITUTE
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EUROFER Welcomes Anti-Dumping duties on Stainless Steel Imports from Indonesia, China & Taiwan

The European Steel Association EUROFER welcomed the measure as a first step towards restoring a level playing field and securing a sustainable future for the European stainless industry, but says the Commission must apply trade enforcement rules in full, given the spirit and intention of the revised EU trade defence instruments adopted by the European Parliament and the Council in 2018. Axel Eggert, Director General of EUROFER said “Indonesia, China and Taiwan have a structural overcapacity problem. Their dumping has seriously harmed European stainless steel producers and these measures are necessary. However, by not disapplying the Lesser Duty Rule the European Commission has failed to fully apply the revised Trade Defence Instruments rules. They must do so without inhibition if they want to effectively tackle third country trade distortions and save EU industry and the jobs it supports”.

The European Commission has published definitive anti-dumping duties on imports of certain hot rolled stainless steel sheets and coils originating in Indonesia, the People’s Republic of China and Taiwan (Regulation 2020/1408). The European Commission Implementing Regulation largely confirms existing provisional measures and imposes definitive anti-dumping duty rates of 17.3% on SSHR imports from Indonesia, up to 19% on imports from China, and up to 7.5% on imports from Taiwan. The investigation leading up to these measures was initiated in August 2019 following a complaint submitted by EUROFER.

Source : STRATEGIC RESEARCH INSTITUTE
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Direct Firing Furnace Honoured Grand Prix at Fives Innovation Awards

Global industrial engineering group Fives has developed a new flameless Direct Firing Furnace for continuous annealing or galvanizing lines, which will enable the production of new generation steels Gen3 AHSS for the automotive industry. It is a breakthrough innovation responding to the constraints associated with the production of Gen3 AHSS, the new steel grades needed to manufacture lightweight vehicles with reduced emissions. The new concept received the Grand Prix at Fives’ Innovation Award in Paris on September 24, 2020. Fives’ Innovation Award is an annual event, held by the group, to support innovative ideas and solutions among its employees.

In strip processing lines, the furnace is a key technology for achieving the final product properties – but if preheating temperature in DFF is not homogenous, those properties can be compromised. The innovative DFF uses new S-shaped tunnel geometry combined with flameless combustion to achieve homogeneous heating in all the sections of the furnace by using a new generation of lateral burners. The result is a homogeneous temperature of +/-10°C along the whole width of the strip at the exit of the furnace.

Source : STRATEGIC RESEARCH INSTITUTE
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NLMK Implements Digital Solution for Equipment Procurement Management

NLMK Group has implemented the SAP Aria Sourcing procurement management system to improve the efficiency of equipment selection and acquisition. The system allows standardizing the process of selecting suppliers, comparing technical characteristics of equipment and terms of cooperation, and monitoring order fulfillment and compliance with deadlines. The digital solution will reduce procurement operating costs by 20-40%.

SAP Aria Sourcing is a one-stop-shop solution that combines multiple tasks related to supplier selection within a single system, including the development and approval of basic engineering, preparation of a list of necessary equipment, filling out questionnaires, and selecting a counter party based on technical and commercial criteria. The system enables all procurement process participants to interact effectively in a single space, saving the company's time and resources.

Source : STRATEGIC RESEARCH INSTITUTE
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Worldsteel announces Winners of 11th Steelie Awards

Excellence in digital communications - Tata Steel

Excellence in communications programmes - JSW Steel, Roof to Dream

Innovation of the year – JFE Steel, Development of resource saving type Si gradient steel sheet for high-speed motors

Excellence in sustainability –POSCO, Triton Sea Forestation Project

Excellence in Life Cycle Assessment - China Baowu Steel Group, Use of LCA on carbon trading market policy making

Excellence in education and training - Tata Steel, Digie-Shala (Capability Development)

Journalist of the year - Colin Richardson Editor Argus Media

Source : STRATEGIC RESEARCH INSTITUTE
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Mondiale vraag naar staal herstelt sterker dan verwacht

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ArcelorMittal
11,826 -0,248 -2,05 % Euronext Amsterdam
Bekaert
18,78 0,28 1,51 % Euronext Brussel

(ABM FN-Dow Jones) De mondiale vraag naar staal krimpt dit jaar veel minder hard dan eerder gedacht. Dit bleek donderdag uit de Short Range Outlook voor 2020 en 2021 van de World Steel Association.

De vraag naar staal krimp dit jaar naar verwachting met 2,4 procent tot 1.725,1 miljoen ton, waar de World Steel Association in juni nog een krimp van 6,4 procent voorspelde.

In 2021 herstelt de vraag naar staal tot 1.795,1 miljoen ton; oftewel een toename van 4,1 procent ten opzichte van 2020.

Volgens de World Steel Association compenseert een sterk herstel in China de krimp van de mondiale staalvraag dit jaar. Ook het herstel elders in de wereld is sterker dan verwacht, maar in 2020 wacht nog altijd een stevige krimp in de staalvraag, gevolgd door slechts een gedeeltelijk herstel in 2021.

De voorspelling van de World Steel Association is onderhevig aan grote onzekerheid nu het aantal coronabesmettingen wereldwijd weer oploopt en gaat er vooralsnog vanuit dat er alleen gedeeltelijke lockdowns komen en doelgerichte beperkende maatregelen worden ingezet om de virusuitbraak in te dammen.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Rio Tinto produceert meer ijzererts

(ABM FN-Dow Jones) Rio Tinto heeft in het derde kwartaal meer ijzererts geproduceerd, maar minder verscheept. Dit maakte de Brits-Australische mijnbouwgroep vrijdag bekend.

Er werd ten opzichte van het tweede kwartaal 4 procent meer ijzererts geproduceerd. Er werd wel 5 procent minder ijzererts afgeleverd, aldus Rio Tinto.

Op jaarbasis liet de productie een daling zien van 1 procent, terwijl de verschepingen met 5 procent terugliep.

Andere delfstoffen als bauxiet, aluminium en koper lieten een verdeeld beeld zien. Bauxiet daalde op kwartaalbasis met 1 procent en steeg op jaarbasis met 5 procent, aluminium steeg op kwartaalbasis met 2 procent en op jaarbasis met 1 procent, koper daalde op kwartaalbasis nog met 2 procent en op jaarbasis zelfs met 18 procent. Titaniumdioxide liep sterk uiteen met een stijging op kwartaalbasis met 12 procent, maar een daling op jaarbasis met 9 procent.

Rio Tinto herhaalde vrijdag de productiedoelstellingen voor het hele jaar, net als de voorgenomen investeringen.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Liberty Steelgroup wil staaltak Thyssenkrupp overnemen

FONDS KOERS VERSCHIL VERSCHIL % BEURS
ThyssenKrupp AG
4,635 0,473 11,36 % Frankfurter Wertpapierbörse (Xetra)

(ABM FN-Dow Jones) Liberty Steel Group wil de staalactiviteiten van Thyssenkrupp overnemen. Dit meldde Liberty Steel vrijdag.

Liberty Steel, onderdeel van GFG Alliance, zei een niet-bindend indicatief bod te hebben uitgebracht op Thyssenkrupp Steel Europe.

De details van dit bod werden niet gemeld.

Het Britse concern zei dat een mogelijke combinatie van de twee bedrijven een entiteit creëert die goed gepositioneerd is om de uitdagingen aan te gaan waarmee de Europese staalindustrie wordt geconfronteerd.

"De bedrijven vullen elkaar aan met betrekking tot activa, productlijnen, klanten en qua geografische spreiding", zei Liberty Steel.

Het is niet zeker of de besprekingen tot een overeenkomst zullen leiden, aldus Liberty Steel.

Het aandeel Thyssenkrupp won vrijdag bijna 14 procent.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Liberty House Mulling Bid for Thyssenkrupp Steel Unit - Reports

There have been many turning points in the more than 130-year history of the two Ruhr groups Thyssen and Krupp. The unsuccessful hostile attempt to take over Thyssen by Krupp in 1997 is just as much a part of it as the resulting merger of the two industrial groups two years later or the failure of the planned steel marriage with the Indian Tata group in 2019.Friday, October 16, 2020, could be another turning point. Then a preliminary decision could be made as to whether the traditional Essen company will actually cut its roots and sell its actual core business with the steel division. According to media reports, Mr Sanjeev Gupta’s UK-headquartered Liberty House is preparing a bid to buy the lossmaking steel operations of Germany’s Thyssenkrupp and could make an announcement as soon as Friday.

A tie-up would merge the activities of Europe’s fourth and second-biggest producers of steel. However, it would probably encounter stiff opposition from unions, who fear job losses and are lobbying for the German state to take a stake in the beleaguered unit.

News of Liberty Steel’s interest, first reported by German magazine Spiegel, comes a day before planned protests by steel workers to put more pressure on the government to bailout Thyssenkrupp’s steel unit, which made a nine-month operating loss of 700 million euros

The Indian born magnate’s ascent within a few years from obscure commodities trader to globe-trotting industrialist running a USD 20 billion business empire has sparked scrutiny of the finances of GFG Alliance, the family owned collection of investments to which Liberty belongs. Any approach by Liberty will inevitably lead to questions on how it would finance a takeover. Its rapid growth has largely relied on often expensive forms of borrowing related to unpaid customer bills, while Mr Gupta has also leant on public authorities for support.

Source : STRATEGIC RESEARCH INSTITUTE
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Tata Steel Announces Performance for Q2 of 2020-21

In India, in 2QFY21, overall apparent steel consumption was down by 7.5%YoY while crude steel production was down by 1.9%YoY. In this environment, Tata Steel India ramped up its steelmaking and downstream operations back to pre-Covid level, with all major sites operating at around full capacity utilization. During the quarter, we increased our crude steel production by 54%QoQ and 2%YoY to 4.59 million tonne. Tata Steel leveraged our robust marketing network and strong customer relationships to reach our highest ever quarterly deliveries of 5.05mn tons which translates to 72%QoQ and 22%YoY growth. We reduced exports to 24% of overall deliveries and sharply ramped up domestic deliveries to 3.86 million tonne which translates to an increase of 164%QoQ and 10%YoY. The growth in domestic deliveries was broad based with YoY growth across all key business verticals:

Automotive & Special Products segment deliveries grew 10%YoY with pick-up in sector demand especially in 2W and PV segment; also gained Share of Business in the new PV and LCV launches.

Branded Products & Retail’ segment deliveries grew by 5%YoY with deliveries to B2ECA sector growing by 9%YoY; Tata Shaktee achieved a delivery volume growth of 22%YoY with robust rural demand.

Industrial Products & Projects segment deliveries grew by 13%YoY. Achieved a 31%YoY growth in value added product deliveries within the segment as we continued to focus on product mix enrichment by catering to discerning customers in segments such as Oil & Gas, Lifting and Excavation and Precision Tubes.

In Europe, macroeconomic and steel demand recovery is more gradual. Tata Steel Europe’s 2QFY21 sales volume increased by 14%QoQ to 2.26mn tons; Steel production was stable on QoQ basis.

Source : STRATEGIC RESEARCH INSTITUTE
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SMS Group Breaks Ground on SMS Campus in Monchengladbach in Rhineland

SMS group is building central complex of facilities with 1,500 modern workplaces in Monchengladbach.Monchengladbach will be home to a new technology, service and digitalization center built on the SMS premises and providing 1,500 modern workplaces. As from 2023, the competences of five locations in the region will be brought together at this central location in the Rhineland. Today, the company already has over 1,200 employees in Monchengladbach. With its innovative Campus, SMS will be able to exploit the full catalyst effect from the growth areas of service and digitalization to expand its pioneering role as a technology provider. With the start of the construction work for the new Campus, SMS is setting a new milestone just ahead of the company's 150th anniversary.

The SMS Campus will cover a gross surface area of around 44,000 square meters and consist of five module buildings. The core of the complex will be a covered atrium serving as a meeting and communication area. A membrane-type roof with a diameter of 82 meters will connect all buildings to create a unique campus. An adjoining staff car park will offer sufficient parking space for cars, motor cycles, and bicycles. It will be equipped with charging stations for electric cars and bicycles. Given the future investments in the infrastructure of the immediate neighborhood by the city of Monchengladbach, the whole district will be upgraded and the new Campus will become well connected with the local public transport system.

At the groundbreaking ceremony, one could already get an impression of the dimensions of the future Campus from the ring-shaped area of removed ground. In the coming months, around 70,000 cubic meters of soil will be removed, with shell construction work for the five module buildings due to start in the spring of 2021. The shell construction will be completed as early as by the summer of 2022. The Campus will be ready for occupancy in mid/end-2023.

Source : STRATEGIC RESEARCH INSTITUTE
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NLMK Lipetsk Cuts H2S Emissions

NLMK Lipetsk has launched an anhydrous cooling system for blast furnace slag as part of its environmental upgrade programme. This will enable it to reduce hydrogen sulfide emissions in the corresponding area by 3.5 times and keep the smell from this chemical compound to a minimum. The implementation of the complex marks NLMK Lipetsk's Blast Furnace Shop No. 1 (three blast furnaces) full transition to dry slag cooling technology. The complex was built in place of a slag dump that had been accumulating since the 1970s. Close to 6 million tonnes of various materials were processed ana more than 300,000 tonnes of iron were fed back into in steel production in the course of the project.

Previously, water was used for blast furnace slag cooling. When hot slag reacts with water, hydrogen sulfide, a chemical compound with a specific smell, is released. The smell can appear even when the concentration of the substance is below the set standard. The new system completely eliminates the need to use water. Advanced excavators will be used for slag handling and loading, capable of working in high temperatures and with increased productivity. Investment in the project exceeded RUB 2 billion.

The average monthly H2S concentration at the border of the NLMK Lipetsk sanitary protection zone is significantly lower than the standard, totaling close to 30-40% oF the maximum permissible concentration.

Source : STRATEGIC RESEARCH INSTITUTE
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Metalloinvest OEMK Completes Overhaul of Rolling Mill 700

Metalloinvest’s OEMK has completed a scheduled overhaul of the Rolling Mill 700, which produces long steel products and tubular and square billets with a capacity of 2.4 million tonnes. Among the key works which have been completed are the replacement of the bearings set in the gearbox of the Vertical Rolling Mill Stand #3 of the first group of the Continuous Billet Mill, repairing of the upper spindle of the Duo-Reversible Stand 1,000 and of the foundations of the tugs of the hot-cutting saw section, replacement of the controller in the technological automation system of the refrigeration section, as well as crane runways in the spans of shipment lots and mechanised rack sections. Sensors for the stationary diagnostic system for the technical condition of the equipment were installed onto the duo-stand and all rolling mill stands of Rolling Mill 700. These will enable the real-time monitoring of equipment performance. In order to launch the system by the end of the year, installation works for the switch and control cabinets of the system are planned for November.

Rolling Mill 700 is one of OEMK’s most important facilities. The uninterrupted supply of rolled steel to the domestic and international markets depends on its high-quality and seamless operation, and therefore the completion of the overhaul in a comprehensive and timely manner was essential.

Source : STRATEGIC RESEARCH INSTITUTE
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Brazilian Steelmakers Plan 10-12% Steel Hike Prices

Reuters reported that according to investment bank BTG Pactual, major Braizilian steelmakers Usiminas, CSN and ArcelorMittal are planning to hike prices of steel for November delivery in Brazil. BTG Pactual analysts Leonardo Correa and Caio Greiner wrote in a note to clients "Our channel checks have confirmed that CSN, Usiminas and ArcelorMittal are announcing another flat steel price hike for the distribution chain. The industry is announcing a 10-12% price hike for November, which places the accumulated steel price hikes at above 40% YTD."

Source : STRATEGIC RESEARCH INSTITUTE
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Tenaris Cuts Hydraulic Oil Consumption by 20%

Tenaris has reduced its hydraulic oil consumption per ton of pipe produced by 23 percent in 2019, a saving of approximately 340,000 liters compared to the previous year, due to the implementation of a strategic industrial maintenance project. To achieve this reduction, Tenaris took several measures including the replacement of hydraulic oil systems for electric movement systems and installing new hydraulic power unit level sensor controls and alarms for early leaks detection, and improving preventive maintenance. Technical audits and trainings were also conducted to best prepare crews for spill prevention and response.

Hydraulic oil is widely used to transfer power within hydraulic machinery and equipment in different stages of the production process. As part of Tenaris’s industrial plan, launched in 2018, to increase its manufacturing efficiency, teams worked to improve total oil consumption at seven of its seamless mills in Argentina, Brazil, Colombia, Romania, Italy, Mexico, and the United States. Tenaris is also enhancing its on-line consumption monitoring tool for identifying further improvements.

Source : STRATEGIC RESEARCH INSTITUTE
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Special Steel Protection for Russian Icebreaker Leader

Russia’s new nuclear icebreaker Leader will be protected by an ice belt made of extra strong steel, according to Sergey Golosienko, deputy head of the research and production complex of the KM Prometey Central Research Institute. The ship will be able to navigate ice 4 metres thick. The thickness of metal sheets for nuclear icebreakers can be up to 60mm, and in some cases 80mm for areas subjected to the most intense loads. This is the ice belt, part of the hull from the bow to approximately the middle of the ship's length on both sides. However, even high-strength ferrous metal is vulnerable in the Arctic seas.

Operation of the first nuclear-powered icebreaker, Lenin, showed that the combined effect of ice and sea water leads to corrosion-erosion of the outer layer. In the first years of operation of the icebreaker, the roughness of the steel skin increases more than tenfold before it stabilises, and this seriously reduces the speed of the ship. To protect the metal from wear and tear, the surface can be coated with a special paint, but the effect is temporary and the paint needs to be restored almost annually.

Material scientists now developed bimetal, clad steel, to solve this problem. Clad sheets are used in various industries for protection against aggressive environments. It is an alternative to single-layer, homogeneous rolled products from expensive alloy steels. The clad steel for the ice belt of a nuclear icebreaker consists of two sheets. The main one - ordinary ferrous metal about 50mm thick and stainless steel cladding 5mm thick, which comes in to contact with ice and water. This steel is highly resistant to wear, and the roughness changes only slightly even under the most severe conditions.

At first, as an experiment, sheets of clad steel were welded into the ice belt of the hulls of the nuclear-powered icebreakers Arktika, Siberia and Yamal as patches, in those areas where the most intense wear take place during operation. After several years of icebreaker operation, the patches remained smooth, and only the protective paint had worn away while the roughness of the metal around the patches increased markedly. It was decided to make the entire ice belt from clad steel.

The first and so far the only icebreaker with such a belt is the 50 Let Pobedy (50 Years of Victory), which has been in operation since 2007, and the ice belt is still almost as good as new.

Arc steels have not yet come into use among shipbuilders, but in future they are expected to replace many shipbuilding steels. The first commercial order in Russia for arc-steel was drawn up with the help of Rosatom. In the upper part of the icebreaker Leader hull, it will be used in the areas with the lowest operating temperatures. Arc-steels are one of the results of work in the field of precision, that is, precise, technologies for creating new materials. Until recently, any changes in steel quality indicators were solved mainly by alloying - the introduction of various chemical elements into iron. But an increase in the content of alloying elements significantly increases the cost and complicates the production process. By fine tuning the technological process, it is now possible to obtain steels with different properties from the same workpiece. For example, a change in temperature at the end of hot deformation can affect the strength and ductility of the metal.

The of KM Prometey Central Research Institute, part of the Kurchatov Institute Research Centre, is Russia’s largest interdisciplinary materials science centre, specialising in advanced materials and technologies for industries where products, structures and equipment are operated in extreme conditions. These are shipbuilding, nuclear, thermal and hydropower, gas and oil refining industries, mechanical engineering and production of military equipment. In particular, within the framework of the design and manufacture of a new generation of VVER-type reactor plants, work is underway to create an austenitic, radiation-resistant steel for elements of in-vessel structures.

Source : STRATEGIC RESEARCH INSTITUTE
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Canada Starts Review on Steel Fasteners Imports from Taiwan

The Canada Border Services Agency has initiated a normal value review to update the normal values and export prices applicable to carbon steel fasteners originating in or exported from the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu in Chinese Taipei by Jau Yeou Industry Co, Ltd. The review is part of the CBSA's enforcement of the Canadian International Trade Tribunal's order issued on September 2, 2020, respecting the dumping of fasteners originating in or exported from the People's Republic of China and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Chinese Taipei) and the subsidizing of such goods, originating in or exported from China, excluding fasteners specifically designed for application in the automotive or aerospace industry, in accordance with the Special Import Measures Act.

Should the exporter decide to participate in this review, it is required to provide a complete and accurate response to the CBSA's Request for Information by November 19, 2020. The exporter will be considered cooperative if the requested information is complete, submitted on time and the exporter permits verification of the data.

If the exporter does not provide a complete response to the RFI by the deadline date, normal values applicable to the subject goods will be determined by advancing the export price of the goods by 170%, pursuant to a ministerial specification.

Source : STRATEGIC RESEARCH INSTITUTE
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Vertraagd 2 dec 2020 10:00
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