The U.S. ITC has confirmed it will investigate Chinese exports of steel-based carton-closing staples after a petition was made on March 31. An initial decision on the case is due in September, and will likely not be included in the broader “section 232” review of the steel industry. Panjiva data shows Chinese suppliers may have anticipated the case. Average export prices from China to the U.S. in March were just 43% the level of competitors, down from 52% in January. Yet, this didn’t help volumes as Chinese supplies fell to a market share of 53% in March from 70% in January.
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