Cut off from steel, aluminum and stainless steel imports – EU state Lithuania feels the Chinese hard hand in the dispute over Taiwan. Imports to Lithuania already acutely affected. France pushes countermeasures. The European Commission has extended anti-dumping duties against the People’s Republic of China, Russia, USA, Japan and South Korea on flat-rolled silicon-electro steel imports for five years. The situation for nickel and aluminum in Europe continues to improve. And thyssenkrupp plans to spin off its hydrogen business.
As sources tell us, companies from Lithuania are currently having considerable difficulties purchasing goods such as steel, stainless steel and aluminum in China and importing them to Lithuania! According to market participants, this is already affecting imports that are currently pending and cannot be carried out due to missing documents and difficulties with the Chinese authorities.
According to media reports, there are currently also significant challenges in exporting products from Lithuania and goods from other EU countries that use parts from Lithuania to China.
The background to the tensions between Lithuania and China is the opening of a Taiwanese representation in Lithuania – the first ever in the EU.
France, which seems to be indirectly affected by Chinese export restrictions against Lithuania, like Germany and Sweden, wants the EU to take action against it. French government officials are probably already talking about taking action very quickly now.
The European Commission yesterday announced the extension of anti-dumping duties on silicon-electrical steel (GOES). The anti-dumping duties imposed in 2016 target imports from the People’s Republic of China, Russia, USA, Japan and South Korea. The EC has thus given in to the demands of the European GOES producers. In contrast to the usual practice, this anti-dumping measure does not involve a punitive duty, but rather a minimum import price, to which a duty rate of 21.5 to 39% is added if the price falls below the minimum. This is intended to ensure the continued supply of this important input product.
The LME has shown new upward movements in nickel and aluminum this morning. For the LME nickel has already gone up by more than 2% and aluminum has again exceeded the mark of $ 3000 per ton. Also for energy, such as oil and natural gas, it went today Tuesday already upwards.
Germany’s thyssenkrupp has given its khyssenkrupp Uhde Chlorine Engineers division, which produces electrolyzers for hydrogen and chlorine, a new name. The company is to be floated on the stock market under the thyssenkrupp nucera brand and will thus be de facto spun off from the Group.
The stock market flotation and spin-off of thyssenkrupp nucera could now also bring fresh impetus to the Duisburg-based group’s ailing steel operations. After the Italian stainless steel subsidiary Acciai Special Terni was sold to the Arvedi group, the upcoming spin-off of thyssenkrupp nucera could open a further chapter in the attempt to sell the steel business as a whole.