AMU
July 10, 2024
Written by Laura Miller
The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.
President Joe Biden decreed that steel imports from Mexico again be subject to 25% Section 232 tariffs – unless the products are melted and poured in Mexico, the US, or Canada.
Recycler forward expectations swung toward oversupply in September as inventory drawdowns eased and export demand lost August’s improving responses.
Kibar Americas said production has started at its aluminum plant in Fairmont, W.Va., where it will manufacture products for the HVAC, packaging, automotive and industrial sectors.
China is bumping up against its official primary production capacity limit of 45.3 million metric tons/year, but production can still increase through “capacity creep.”
Automotive aluminum demand is rising as extrusions, sheet, and castings gain ground across vehicle applications and powertrains.
Recycler demand increased while fewer respondents reported sufficient obsolete scrap, even as inventory drawdowns remained widespread.