Government/Policy
February 21, 2023
Written by Michael Cowden
ArcelorMittal has followed three major domestic mills in increasing sheet prices by at least $100 per ton ($5 per cwt).
Luxembourg-based ArcelorMittal, one of the world’s largest steelmakers, also said it was targeting a minimum base price of $1,000 per ton for hot-rolled coil (HRC) effective immediately.
Philip K. Bell, president of the Steel Manufacturers Association (SMA), will join SMU for a Community Chat on Tuesday, Nov. 17. The live webinar is free for anyone to attend. The recording and slide decks will be available only to SMU subscribers. Bell is plugged into steel and plugged into DC politics, which makes this chat a must-see, especially as we prepare for a new, Democratic-controlled Congress to convene in January.
The midterms are over, and Democrats will control both chambers of Congress in January. In this space last week, Lewis Leibowitz predicted that President Trump's tariffs, including Section 232, may not last much longer. We disagree. To be sure, the new Congress will change trade policy. It will hold hearings, write bills, and almost certainly revisit the trade dispute with Canada. But the foundation of US trade policy is unlikely to be disturbed. Section 232 and Section 301 are established, court-tested authorities that both parties have used. They are also working.
The US International Trade Commission (ITC) has voted unanimously to keep anti-dumping and countervailing duty orders on welded line pipe from South Korea and Turkey in place for another five years.
Mesabi Metallics has received preliminary approval for tax incentive terms for a proposed steel plant in Iowa, following a Nov. 10 meeting of the Lee County Board of Supervisors. The company, owned by India’s Essar Group, announced in late September its intention to build an electric-arc furnace steel plant in the state, which, if built, would be the largest in the US.
Imports of tin mill products from Taiwan and Turkey face new anti-dumping duties (AD) in the US after a key Commerce Department determination. In the trade case investigating allegedly dumped tin mill products, Commerce preliminarily determined that tin mill products from both countries are being sold below fair value.