Steel Products
Goodbye to Section 232 Tariffs in December?
Written by Sandy Williams
June 9, 2021
A deadline has been set by the European Union and the U.S. to end Section 232 steel and aluminum tariffs, and any retaliatory measures, by Dec. 1, according to a draft communiqué obtained by Reuters. An announcement of the agreement is expected at the G7 Summit next week in Brussels.
“We commit to work towards lifting before 1 December 2021 all additional/punitive tariffs on both sides linked to our steel and aluminum dispute,” the draft said.
The communiqué also includes a commitment to ending the dispute regarding subsidies to aircraft companies, Boeing and Airbus, by July 11.
Lifting of the tariffs will be welcomed by manufacturers in the U.S. although they are still strongly supported by the steel industry. But all things come to an end. As the president of the Steel Manufacturers Association President Philip Bell noted in a SMU Community Chat webinar, “all tariffs have a shelf life.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

US rig count slips, Canada ticks higher
ncreases through September, according to the latest Baker Hughes rig count data.

CRU: EC to toughen steel safeguards
The European Commission proposes cutting its steel import quota by almost half, with volumes exceeding the limit facing 50% duties. The region’s steel industry welcomes the move, while other steel-producing nations fear the consequences. CRU published an insight before this announcement, noting that more restrictive trade policy could significantly raise the cost of marginal supply […]

US and Canadian rig counts stabilize
US counts continue to hover just above historic lows, while Canadian figures remain comparatively healthy.

Plate market sources critique mill hikes amid current market conditions
Following spot market plate price increase notices issued by domestic mills this past week, participants are contemplating the rationale behind the increases and whether they will stick. Some sources anticipate that current market conditions will shift in November and believe the increases may set a new "pricing floor."

Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.