Features

Holiday notice: Memorial Day
Written by Brett Linton
May 23, 2024
Steel Market Update will be taking time off in observance of Memorial Day. We will not publish our Executive issue on Sunday, May 26.
Our offices will be closed on Monday, May 27. We will resume our regular publication schedule on Tuesday, May 28. Our weekly pricing service will not be impacted.

Brett Linton
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Final Thoughts
A lot of the changes basically entail rolling back what I’ll call, for fun, Section 232 Lite. S232 Lite resulted from watering down what I’ll call OG S232 – the one first imposed in March 2018 - with exemptions and exclusions over the years. Now, OG Section 232, is back with its across-the-board 25% tariffs against everyone.

American steelmakers warmly welcome Trump steel tariffs
AISI and SMA praise Trump tariffs.

Trump officially orders sweeping 25% tariff on steel, aluminum
The new version of Section 232 goes into effect on 12:01 am ET on March 12, according to the executive order. The latest iteration of Section 232 removed quotas, exemptions, and other carve outs that had accumulated over years.

Steel exports drop to 2-year low in December
December 2024 marks the fourth month in a row that steel exports have declined, now at the lowest monthly rate recorded since December 2022.

AISI: Raw steel production climbed last week
US mills produced an estimated 1,675,000 short tons (st) of raw steel last week, the highest weekly rate recorded since mid-December according to data recently released by the American Iron and Steel Institute (AISI).