FxWirePro: Daily Commodity Tracker - 21st March, 2022 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
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Last week, the U.S. Commerce Department announced that it has concluded its investigation into imports of cast iron soil pipe fittings from China and the department has found that exporters from China received countervailable subsidies ranging from 7.37 percent to 133.94 percent. In addition to that, the department has also found that Chinese exporters are dumping the above product at 22.11 to 360.39 percent less than fair value. The Commerce Department has asked the U.S. customs and border protection agency (CBP) to collect cash deposits from importers based on the above rates.
The investigation was initiated based on a petition filed by Cast Iron Soil Pipe Institute of Illinois. According to the department’s calculation, the imports of cast iron soil pipe from China were valued at $7.8 million in 2017.
The Commerce Department has significantly stepped up AD & CVD (Countervailing duties) investigations and actions under the Trump administration. The number of investigations initiated and settled is 30 percent more than the previous administration.
