A major aluminum company has requested that Canada be exempt from Section 232 aluminum tariffs so that it can import alloy from its Canadian mills. Alcoa has three smelting facilities in Canada and three in the United States, as well as other global locations. The Baie-Comeau facility in Quebec produces specialty aluminum in 24-inch slabs, […]
Stelco is enjoying an unaccustomed perspective, the view from the catbird’s seat in the North American steel market. The once-troubled Canadian steelmaker reported operating income of $161 million on sales of $711 million (Canadian dollars) for the second quarter as steel shipping volumes increased by 49 percent over the prior-year quarter. Sales were up 67 […]
Canada’s retaliatory tariffs will go into effect on July 1 in response to U.S. tariffs on steel and aluminum, said Foreign Minister Chrystia Freeland on Friday. The tariffs on $12.6 billion of U.S. goods are equivalent to the value of steel and aluminum products hit by the Section 232 tariffs. Freeland, accompanied by Industry Minister […]
ArcelorMittal Dofasco CEO Sean Donnelly told Ottawa lawmakers that U.S. tariffs may force the company to lay off 1,000 workers and reconsider investments totaling $564 million. During testimony at a special meeting of the House International Trade Committee, Donnelly and other steel manufacturers asked the government to hold firm on retaliatory tariffs against the United […]
Sixty-three percent of respondents to this week’s Steel Market Update market trends questionnaire expect steel supplies to tighten and prices to rise even further now that the Trump administration has revoked the exclusions and imposed Section 232 tariffs on steel imported from Canada, Mexico and the EU nations. The 25 percent tariffs took effect June […]
Is Canada really guilty of the trade inequity that President Trump charges? We looked at two product targets of the administration—dairy and automobiles—to find out. The office of the U.S. Trade Representative estimates trade with Canada in 2017 totaled $673.9 billion–$341.2 billion in exports and $332.8 billion in imports, for a goods and services trade […]
Consumers in the United States may soon see their favorite products increase in price or become harder to find. In retaliation for Section 232 tariffs on U.S. steel and aluminum, Canada plans to impose its own 25 percent and 10 percent tariffs on a wide variety of goods. The 25 percent tariff is restricted to […]
The American Institute for International Steel, a trade group representing foreign steelmakers, said it is deeply disappointed the Trump administration has decided to impose tariffs on steel and aluminum imports from the EU, Canada, and Mexico. “Make no mistake: restricting the raw material supply in the U.S. and imposing tariffs on imports from our closest […]
The Canada Border Services Agency initiated an investigation on May 25 into the dumping and subsidizing of certain cold-rolled steels in coils or cut lengths from China, South Korea, and Vietnam. The investigation was prompted by a complaint from ArcelorMittal Dofasco. Cold rolled imports under the investigation increased from 85,075 metric tons in 2015 to […]
Just days before the U.S. is due to announce if it will extend the steel tariff exemptions it granted to its closest trading partners, officials in Canada announced plans to strengthen border enforcement to prevent transshipments and diversion of unfairly priced steel into North America. It’s difficult not to see a link between Canada’s announcement […]
Steel shipments by Canadian service centers in March totaled 435,600 net tons, up 13.6 percent from February, and up 3.4 percent from March 2017, reports the Metals Service Center Institute (MSCI). This is the highest monthly shipment level seen since June 2015 when 437,000 tons were shipped from Canadian service centers. On a daily basis, […]
Union Partners, a Chicago-based, full-service metals and logistic company, announced on Wednesday the acquisition of Maksteel, a service center, toll processor and logistics provider located in Mississauga, Ontario. Founded in 1970, Maksteel claims to be the first service center in Canada to process advanced high strength steels (AHSS) and martensitic steels as part of its […]
Union Partners, a Chicago-based, full-service metals and logistic company, announced on Wednesday the acquisition of Maksteel, a service center, toll processor and logistics provider located in Mississauga, Ontario. Founded in 1970, Maksteel claims to be the first service center in Canada to process advanced high strength steels (AHSS) and martensitic steels as part of its […]
Pointing to improving market conditions and favorable pricing trends, Canada’s Stelco forecasts Q1 earnings of $60-70 million and Q2 earnings of $120-150 million. The integrated steel producer expects first-quarter 2018 shipments to be 3-5 percent higher than fourth-quarter 2017. In late Q1 2018, the company expanded its distribution capabilities by adding 200 rail cars to […]
Recognizing the current sensitivity of trade relations with the Trump administration, Canada is taking extra precautions to ensure there is no circumvention of U.S. tariffs through the Canadian borders. The Canada Border Services Agency will be empowered to identify businesses that are attempting to dodge duties by shipping cheap steel to Canada. Agents will have […]
Steel shipments by Canadian service centers in February totaled 383,300 net tons, down 6.5 percent from January’s high, but up 4.8 percent from February 2017, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 19,200 tons per day in February (a 20-day month), up from 18,600 tons per day in […]
President Trump wants the NAFTA talks concluded before upcoming elections in Mexico and the U.S., as he told Canadian Prime Minister Justin Trudeau in a phone call on Monday. Trudeau has been meeting with Canadian steel and aluminum workers this week with stops planned at Stelco and ArcelorMittal Dofasco on Tuesday. The call came on […]
Canadian steel mills like Algoma and Stelco are getting a reprieve from steel and aluminum tariffs, at least for now. The Section 232 tariffs imposed by President Trump will not affect Canada or Mexico provided they can complete a NAFTA agreement quickly and on U.S. terms. “For now, Canada and Mexico will be excluded from […]
Canadian steel mill Stelco held its first earnings call since becoming a publically held company and reported stellar results for the fourth quarter. The company, formerly owned by U.S. Steel, presented a strong balance sheet, no debt and no legacy liabilities. Revenue for the quarter increased 45 percent from a year ago to $452 million. […]
Steel shipments by Canadian service centers in January totaled 410,100 net tons, up 46.4 percent from December’s lull, but down 0.4 percent from January 2017, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 18,600 tons per day in January (a 22-day month), up from 14,700 tons per day in […]
The U.S. rig count, an indicator of oil country tubular goods demand, was down for the week, but is up 23 percent year over year, according to Feb. 2 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs fell by 1 to 946 rigs, with oil rigs up 6 to […]
ArcelorMittal announced that it will invest CAD $70 million (U.S. $56.8 million) in its Contrecoeur, Quebec, wire rod and bar facilities. Two reheating furnaces will be replaced at Contrecoeur-East wire rod mill and its Contrecoeur-West steel bar mill. The furnaces will increase the company’s rolling capacity by 100,000 metric tons with greater efficiency and reduced […]
Steel shipments by Canadian service centers in December totaled 280,100 net tons, down 29.8 percent from the previous month, and down 3.4 percent from December 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 14,700 tons per day in December (a 20-day month), down from 19,000 tons per day […]
The U.S. rig count, an indicator of oil country tubular goods demand, increased this week, according to Jan. 12 data from oilfield services company Baker Hughes. The number of active U.S. drill rigs rose by 15 to 939 rigs, with oil rigs up 10 to 752 rigs, gas rigs up 5 to 187 rigs, and […]
Is the United States violating World Trade Organization rules with its trade remedy methodologies? Canada says yes and has filed a complaint with the WTO alleging that the United States’ use of antidumping and countervailing duties violates international trade law. Spurred by recent duties on paper, lumber and airplanes, Canada filed a complaint last month […]
The American Iron and Steel Institute welcomed Canada’s integrated steel company Stelco to its membership at AISI’s recent board meeting in Washington, D.C. “With its significant presence in North America, Stelco will be a great partner in our continued advocacy to fight unfairly traded foreign imports and level the playing field for the North American […]
The U.S. Department of Commerce announced on Wednesday antidumping and countervailing duties of almost 300 percent on Canadian Bombardier C Series planes that are shipped to the U.S, setting up potential retaliation by Canada. In its final determination, Commerce set an antidumping duty rate of 79.82 percent and a CVD rate of 212.39 percent. Boeing […]
Steel shipments by Canadian service centers in November totaled 398,900 net tons, up 1.8 percent from the previous month, and up 0.2 percent from November 2016, reports the Metals Service Center Institute (MSCI). On a daily basis, total shipments were 19,000 tons per day in November (a 21-day month), up from 18,700 tons per day […]
Prime Minister Justin Trudeau warned against protectionism at a meeting of business leaders in China on Wednesday, offering a thinly veiled criticism of the Trump trade agenda. “We are at a pivot point in the world right now, where we decide whether we work together in an open and confident way and succeed or whether […]
Prime Minister Justin Trudeau warned against protectionism at a meeting of business leaders in China on Wednesday, offering a thinly veiled criticism of the Trump trade agenda. “We are at a pivot point in the world right now, where we decide whether we work together in an open and confident way and succeed or whether […]