TPT November 2009

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Global Marketplace
86 November 2009 ›
Ottawa’s decision in July to impose visa requirements on Mexican
visitors, as part of an overhaul of Canada’s immigration policies to
reduce the number of bogus claims for refugee status. Mr Calderón
said Mexicans feel “very bad” about the new measure; and that “it
certainly gets in the way of a good relationship” between Mexico
and Canada.
Here again, the emphasis was on amity rather than discord. The
Mexican leader asserted that Mexico City and Ottawa will continue
to cooperate on bilateral issues. But at the end of the summit Mr
Harper, the Canadian head of state, made plain that he will rely on that
assurance. Repeating an assertion first made after a private meeting
with Mr Calderón, he said that the Mexican government “continues to
work with us” to stem the flow of refugee claimants from Mexico.
› Even if the leaders of the US, Canada and Mexico had found
themselves in perfect accord at their summit, all three are
elected officials with markedly opinionated constituents. On his
return home Mr Obama, in particular, was quickly reminded that
many Americans hold strong views of their own on matters discussed
at Guadalajara.
A Rasmussen Reports national telephone survey published
on 12 August found that a majority of Americans would deny
Canadian Prime Minister Stephen Harper’s request for elimination
of the Buy American measure. 52% of respondents are against
lifting the provision that bars Canadian construction companies
from competing for projects under the US economic stimulus
plan. Only 15% would accede to Mr Harper’s wishes. One in three
adults was unsure.
The poll results were even more unfavourable as to a
request of Mexican President Felipe Calderón. The survey
found just 19% of American adults willing to permit trucks from
Mexico to cross the border and carry their loads on American
highways. Some 66% of respondents opposed lifting the current
congressional ban on Mexican trucks operating in the US. Only
15% expressed no opinion.
Given the rapidly growing numbers of Latin Americans among the
population of the US, another poll published by Rasmussen Reports
at the same time produced some curious results. The electronic
publishing firm – specialising in the collection and distribution of
information on public sentiment – found that only 54% of Americans
view Mexico as an ally of the United States. Some 86% were found
to view Canada as a US ally.
Steel
› Uttam Galva Steels Ltd, the Indian steel maker in which
ArcelorMittal is seeking a controlling stake, expects great things
from its connection with the world’s largest producer. As reported
by Bloomberg News (5 September), Uttam Galva’s director Ankit
Miglani was ebullient about the prospective deal.
“It will ensure [US] raw material security, the supply of high-grade
hot-rolled coils,” Mr Miglani told reporters in Mumbai. “It will get us
the Midas touch of the Mittals.”
As noted by Bloomberg’s Thomas Kutty Abraham, ArcelorMittal’s
first Indian acquisition may also help India-born chief executive
officer Lakshmi Mittal to benefit from surging demand for steel in
Asia’s third-biggest economy.
When results are compiled, Indian demand is expected to show a
gain of as much as 10% through March 2009 on increased government
spending on infrastructure. According to India’s steel ministry, growing
demand for steel could enable domestic companies to double their
combined capacity to as much as 124 million metric tons by 2012.
› Chairman Zhu Jimin of Shougang Iron and Steel Group said
on 2 September that the group expects its annual steel output
to reach 30 million metric tons by 2012, two years after its Beijing
facilities are shut down. As reported by Xinhua, the official Chinese
news agency, Shougang is moving all production to a mill in
Caofeidian, an islet 137 miles east of Beijing. Speaking at an event
to commemorate the group’s 90th founding anniversary, Mr Zhu said
that the new plant will be producing 9.7 million mt of steel per year
by the end of 2010. Shougang Group, the parent of Shougang Iron
and Steel, is China’s eighth-largest steel maker.
› South Korea’s POSCO, the biggest stainless steel maker
in Asia, announced price rises as of September to reflect
improving global prices and rising raw material costs. According
to a company statement reported in the Korean daily JoongAng
(28 August), the world’s sixth-largest steel maker said that its prices
for hot-rolled stainless would rise by 13% to $2,732 per metric ton,
while cold-rolled stainless would go up by 12% to $2,948. These
were the third consecutive monthly increases for POSCO, which said
it had no plans to raise prices on carbon steel products. POSCO’s
smaller domestic rival, Hyundai Steel Co, said that it would raise
carbon steel prices by up to 6.9%. This was the first increase in a
year for South Korea’s second-largest steel maker.
› The price of steel for use in construction in Saudi Arabia fell 55%
in the year through June 30, when it stood at $601.6 per metric
ton; but a rise of nearly 9% was recorded since the start of 2009. The
data, cited by ArabianBusiness.com (23 August), was supplied by
the Central Department of Statistics and Information. Its publication,
a first by a government body in Saudi Arabia, followed moves earlier
in 2009 to end some bans on steel and cement exports. These have
lasted almost a year after construction costs surged in 2008. Steel
prices in Saudi Arabia hit a record high of $1,345.5 per metric ton in
July of that year.
Aviation
Under suspicion in an Air France disaster,
sensors are to be replaced on tens of
thousands of aircraft worldwide
The pitot tube, a fuselage-mounted probe that reads the speed of
an airplane, is named for its inventor, a French engineer, and was
modified to its current form by a French scientist. But the plunge of
an Airbus A330 jet, flown by Air France, into the ocean off Brazil on
1 June has intensified demand for the pitots manufactured by an
Emmanuel Wuyts
An Airbus A330 similar to the one that crashed near Brazil