STEEL INDUSTRY WELCOMES CANADA'S ANNOUNCEMENT ON MELT AND POUR

OTTAWA, ON, Feb. 21, 2024 /CNW/ - The Canadian Steel Producers Association welcomes today's announcement that Canada will require all steel imports into the country to report where the raw steel was first produced, known as Country of Melt and Pour.   

As Canada's steel industry faces significant exposure to global steel excess capacity and unfair trade practices, it is a crucial development that Canada is now requiring this disclosure as a new condition on all steel imports into the country.  This fact will increase transparency and accountability in steel trade and support the domestic industry's quest for fairer trade in Canada.  It will also better align our trade monitoring system with our major trading partner, the United States and support efforts to prioritize the use of cleaner steels throughout North American supply chains. Our trade remedies system will benefit from this enhancement of data collection.

Moving forward, it will be critical to Canada, and our major partners, that the information collected via this new tool is regularly and consistently reported on publicly. 

The Canadian Steel Producers Association is the national voice of Canada's primary steel and the pipe and tube industry, dedicated to ensuring a competitive and sustainable business environment for its members and supply chain stakeholders. Canadian steel producers are integral to Canada's economy and a vital supplier to many segments of North American industry, including the automotive, energy, construction, and transportation sectors.

SOURCE Canadian Steel Producers Association