Analysis
June 16, 2025
More appliances added to downstream S232 tariff list
Written by Laura Miller
The Trump administration is expanding the list of derivative steel products covered by the now 50% Section 232 tariff.
Background
Latest in Analysis
Leibowitz: US steel prices skyrocket above world prices. Which are right?
Steel markets in the United States now feature supply shortages. Spot tons are well-nigh unavailable, and even contract tons are scarce. Based on the available statistics, the US market for flat-rolled products is seriously constrained. The US economy is still the strongest in the world, and manufacturing output remains vigorous. But the available supply is tight. The reason is fairly obvious. US domestic supply has increased a bit. Meanwhile, imports have fallen significantly.
US scrap prices strengthen from initial October levels
Earlier this week, several steelmakers entered the market with prices for shredded, plate and structural (P&S), and heavy melting steel (HMS) up $20 per gross ton (gt) from September. Prices on prime grades were initially missing but were then reported as up only $10. This occurred in select regions, mainly in the northern tier. As the week went on, expectations were that the rest of the market would follow suit. But this has not been the case.
SMU scrap market survey results now available
SMU’s October ferrous scrap market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the Pricing and Analysis tab and look under the “survey results” section for Ferrous Scrap Survey results. Past scrap survey results are also available under that selection. If you need help accessing the survey results or if your company would like to have your voice heard in our future surveys
Commerce amends duties on Korean HR
The Department of Commerce is adjusting the countervailing duties (CVDs) on imports of hot-rolled steel flat products from two South Korean producers. The agency released the final results of its administrative review for calendar year 2023, finding a lower rate for Hyundai but a higher rate for POSCO. Tariff and trade issues have led South Korea to overtake Canada this year as the largest foreign supplier of HR.
US steel imports reach 15-month high in August, rise further in September
Steel imports into the US crept higher in August and continued climbing in September, according to the Department of Commerce's latest import license data. August imports rose 3.4% from July to a 15-month high. September license data collected through Oct. 5 shows another 6.2% month-on-month increase. Imports continue to recover from some of the lowest levels since 2020, seen late last year through February this year.