Steel Products
Few Favor NAFTA Withdrawal
Written by Tim Triplett
September 12, 2017
Seven out of 10 respondents to the latest Steel Market Update market trends questionnaire feel the United States should not withdraw from the North American Free Trade Agreement. Less than 30 percent say the U.S. should follow through on its threats to pull out of the trade pact if it does not win concessions from Canada and Mexico.
“A trade agreement between North American countries makes too much sense,” commented one mill executive. “The worst decision is to withdraw from our local trade pact. We will lose out in the end,” said a trading company executive. “As a consumer, I don’t want my price of goods to go up,” added a respondent from a service center.
{loadposition reserved_message}
Tim Triplett
Read more from Tim TriplettLatest in Steel Products
Northwest Pipe changes name to NWPX Infrastructure
Northwest Pipe changes name to NWPX Infrastructure.
Tariffs, ample domestic supply cause importers to shift or cancel HR import orders
Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]
Drilling activity slows in the US, grows in Canada
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US totals slipped for a sixth straight week, while Canada saw a slight bump in activity.
Commerce finds no Korean OCTG shipments below market value
US Department of Commerce (Commerce) review found no South Korean oil country tubular goods (OCTG) exporters or producers sold products below market value
Drilling activity slows further in US and Canada
Oil and gas drilling activity declined again this week in both the US and Canada, according to Baker Hughes.