Doubled S232 drives EU HR price over US, Asian HR still behind

Domestic hot-rolled (HR) coil prices edged up marginally this week, while offshore prices ticked down.

President Trump doubled Section 232 tariffs this week on imported steel and aluminum from 25% to 50%. Recall that the re-emergence of Section 232 on March 12 narrowed the gap between imports and US prices on a landed basis. Before that date, allies such as Japan and the EU were not subject to the 25% S232 tariff.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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