TPT March 2015

Global Marketplace

of the “Buy America” provision. The state, which faces multi- billion-dollar budget deficits deriving from the plunge in oil prices, is not well positioned to fund the project on its own. In a statement on 19 January, Canada’s minister of international trade, Ed Fast, called the application of “Buy America” provisions on Canadian soil an “affront to Canadian sovereignty.” And there the matter stands. › The prospective purchase by Esmark Inc (Sewickley, Pennsylvania) of a former US Steel Corp plant in Serbia advanced a step with the announcement by the Serbian government that the flat-rolled steel processor and distributor submitted the only valid bid for the money-losing Zelezara Smederevo steelworks. Serbia is trying to offload Zelezara Smederevo as it seeks to rein in its budget deficit and public debt under a new loan deal with the International Monetary Fund. As reported by John D Oravecz in the Pittsburgh Tribune- Review (10 January), Esmark CEO James P Bouchard met with Serbian government leaders in London in October and committed to bidding for the operations, about 30 miles southeast of Belgrade, under a newly formed subsidiary, Esmark Europe. Mr Bouchard had previously told Tanjug, the Serbian state news agency, that Esmark is prepared to invest $400 million in the plant over the next few years and that it would not lay off any of the 5,000-strong workforce.

Chinese steel exporters had been adding boron to some of their steel products to qualify for the now-expired rebate, which ran as high as 13 per cent on product for sale overseas. But, as reported by Bloomberg News (5 January), Ms Hu said producers may continue to receive the rebate by incorporating chromium instead of boron into their steel. › CBC News (Ottawa) reported 15 January that US Steel Canada (USSC) planned to restart the coke ovens at its Hamilton (Ontario) operations and re-employ some 77 employees laid off last autumn when the company declared bankruptcy and “hot idled” the plant. Work was to resume in March when a steady supply of American coal could be transported through the Welland Canal, navigable again after the winter. › The Canadian government has signed an order blocking the state of Alaska from updating a ferry terminal on Canadian soil in British Columbia in a dispute over the steel to be used in the project. The site, at a port that is part of the Alaska Marine Highway System, is leased by the state. The major contribution to the construction budget is expected to come from the US Federal Highway Administration, which has “Buy America” requirements for steel, iron, and manufactured products used in projects it funds. The remainder would come from the state of Alaska. Canadian officials maintain that Canadian metal suppliers should not be excluded from bidding on the work; but the governor of Alaska, Bill Walker, has declined to seek a waiver

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