Mexico
January 12, 2023
Written by Michael Cowden
Let’s just clear the air of any confusion here. It looks like Nucor’s price increase – $50 per ton ($2.50 per cwt) – announced earlier this week was a catch-up to an increase of the same amount announced by Cleveland-Cliffs in mid-December.
Assuming that’s the case, we’ve had two rounds of price increases since Thanksgiving. And some market participants I’ve spoken to expect a third round before the end of the month.
Global raw steel production slowed for the third month in a row in August, according to the latest figures from the World Steel Association (worldsteel).
The phrase “Fortress North America” seems to resurface anytime US, Canada, and Mexico trade negotiations roll around. The idea of an economic Fortress North America burst onto the scene in the late 1980s and early 1990s in the lead up to NAFTA. In theory...
Six qualified bidders have emerged for the assets of bankrupt Altos Hornos de México (Ahmsa) and its Minosa mining assets.
Following the 17-month high set in June, US steel exports receded 8% in July, according to recently released US Department of Commerce figures. Trade has been historically low for over a year and remains weak compared to 2022-2024 volumes.
Mexico has formally opened an anti-dumping investigation into imports of cut-to-length steel plate from Japan. Mexico’s Ministry of Economy launched the trade case after a complaint by Grupo Acerero (GASA). GASA, a San Luis Potosi-based steel producer, alleges price discrimination and injury to the Mexican industry, according to the announcement in Mexico’s Official Gazette of the Federation. The case targets hot-rolled, uncoated, non-coil carbon steel plate in sheet form, at least 4.75 mm thick and 600 mm wide.