CRU: Sheet import demand softens as domestic price gains have slowed

Price gains seen across US domestic steel sheet prices have started to slow. Pulled-forward demand over the past few months means that orders are beginning to decline, and many in the market are waiting to see where prices go domestically.

As a result, fewer buyers have expressed interest in taking a risk on imports. Not only could tariffs be changed overnight by the current administration (as happened in 2019), but also price volatility has shown that current offers can quickly become uncompetitive. Moreover, preliminary antidumping margins were set on imports from 10 countries for corrosion-resistant products. Some of these were set as high as 50% for a Canadian supplier, 138% for a Brazilian producer, and 88% for imports from Vietnam.