US, EU HR prices decline, doubled S232 tariffs maintain the gap

Hot-rolled (HR) coil prices in the US edged lower again this week but have moved in a tight band for roughly four months. Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.

Recall the tariff hike to 50% on June 3 reversed earlier gains from March. At that time, reimposed undiluted Section 232 rules had briefly narrowed the price gap between domestic HR and imports on a landed basis.

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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