Steel Products
AIIS Comments on January Steel Imports, Section 232
Written by Sandy Williams
March 1, 2018
Steel imports surged more than 17 percent from December to January, reaching 2.87 million net tons, 2.1 percent higher than at the start of last year, according to data from the American Institute for International Steel.
Imports from Canada increased nearly 13 percent to 558,000 net tons, 5 percent ahead of the January 2017 total, while imports from Brazil recorded a monthly increase of just under 5 percent to 371,000 net tons, one-fourth higher than a year earlier. This was followed by 345,000 net tons of imports from the European Union – about 19 percent higher than both December and the previous January; 338,000 net tons from South Korea – more than three-fourths higher than the preceding month and more than 8 percent higher than a year prior; and 333,000 net tons from Mexico – well over a third above the December total and just under a third above the January 2017 level.
Semifinished imports increased 13 percent from the first month of last year to 548,000 net tons.
{loadposition reserved_message}
AIIS added in its report commentary on recent trade actions by the Trump administration. The comments precede Thursday’s announcement of Section 232 tariffs by the president.
“After the Trump administration announced in January that it would impose tariffs on imports of solar panels and washing machines, the Chinese government said that it would investigate the $1 billion in annual U.S. exports of sorghum to that country. This is just a sample of what will happen if the White House restricts steel imports based on the Commerce Department’s Section 232 report. With the global steel market approaching $1 trillion a year – more than 10 times larger than the solar panel and washing machine markets combined – many countries are sure to respond with retaliatory measures. In fact, an official in China’s Commerce Ministry has already indicated that the nation’s vast market could become less open to American businesses, warning, ‘If the United States’ final decision affects China’s interests, we will take necessary measures to defend our rights.’
“The choice for the president, then, is not really steel tariffs or no steel tariffs, it is trade war or no trade war.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.

Steel caucus pushes US trade officials to maintain strong S232 program
The bipartisan Congressional Steel Caucus is pushing for US officials to maintain a robust Section 232 program as they negotiate trade deals with America's trading partners.

Active rig count declines in US, Canada
Oil and gas drilling activity slowed in the US and Canada this past week. An unfamiliar trend after both regions saw repeated gains of late.