11,024.33 TRY BIST 100 BIST 100
40.55 TRY Interest Interest
85.89 USD Fossil Oil Fossil Oil
31.06 USD Silver Silver
4.49 USD Copper Copper
107.83 USD Iron Ore Iron Ore
382.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,553.39 TRY Gold (gr) Gold (gr)

New regulation for Canadian steel importers

The Government of Canada decided that starting from November 2024, importers of steel products will be required to collect information about the country where the raw material was initially produced. With this new regulation, it is expected that companies will be less likely to import from outside the USMCA (US-Mexico-Canada) area.

New regulation for Canadian steel importers

Minister Mary Ng, responsible for International Trade, and Economic Development, stated that importers will need to provide "country of melt and pour" details to the Canada Border Services Agency when completing their customs declarations under the Steel Import Monitoring Program. In this case, Canada has taken an example from the United States, where such a provision is already in place.

Alan Kestenbaum, CEO of Stelco, noted this rule will not be profitable for metal trading companies to divide steel products in their warehouses into those smelted in North America and elsewhere and account for them separately. He further added that the introduction of such a rule in the United States has already led to a change in the preferences of companies.

Mary Ng, Minister of Export Promotion, International Trade and Economic Development stated: “Canada is implementing a predictable and transparent process for collecting melt and pour information, which will bring more reliability and resiliency to the North American steel supply chain. This is yet another step Team Canada is taking to support good jobs and strengthen our North American competitiveness.”


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In
SteelRadar Insight - Sayı 1 (Haziran 2024)

Most read news

Cargo handled at Turkish ports increased

Friday, July 12, 2024

AISI reports decline in steel imports for June 2024

Friday, July 12, 2024

Chinese scrap market follows a volatile trend

Friday, July 12, 2024

Iron ore prices fluctuate in India

Friday, July 12, 2024

The imported rebar market in Singapore has weakened

Friday, July 12, 2024
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now