Market Segment
February 14, 2023
Written by Michael Cowden
Cleveland-Cliffs swung to a loss in the fourth quarter of 2022 but predicted better times ahead in 2023.
Cliffs chairman, president, and CEO Lourenco Goncalves said that optimism comes because the economy in general is on a much better footing in 2023 than had been feared in late 2022, when hot-rolled coil prices fell into the $600s per ton.
In 2015, finished steel imports were 29% of apparent domestic consumption of steel, as estimated by AISI. In 2025, the import share had fallen to 18%. Steel lobbyists think that is progress, but the reality is more complex.
US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.
Several steel trade organizations have called on President Trump to resist weakening Section 232 steel tariffs.
The US Commerce Department has raised the anti-dumping duties (AD) on imports of oil country tubular goods (OCTG) from South Korea.
ArcelorMittal told the government of Ukraine that it is unable to restart operations at its ArcelorMittal Kryvyi Rih steel plant in a “safe and sustainable manner” following Russian missile attacks.