Category: Canada

The US Commerce Department on Friday released preliminary anti-dumping margins in a trade case targeted imports of coated flat-rolled steel from 10 countries. Certain countries and mills were hammered while others were largely spared. Brazilian steelmaker CSN, for example, received a preliminary rate of 137.76%. Some Turkish mills – including Boreclik and ArcelorMittal Celik Ticaret – received no dumping margin at all.

Canada imposes auto tariffs, while automaker Stellantis temporarily idles some plants.

US rig counts remain slightly above multi-year lows, while Canadian activity is slowing following a seasonal peak.

The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.

US rig counts remain slightly above multi-year lows, while Canadian activity is tapering off following a seasonal peak.

US rig counts continue to hover slightly above multi-year lows, while Canadian activity is entering a seasonal decline after recently reaching a seven-year high.

Canada and the European Union are retaliating against what they deem to be unjustified tariffs on steel and aluminum by the United States.

Section 232 tariffs are expected to go into effect March 12.

US rig counts remain slightly above multi-year lows, while Canadian activity is experiencing a seasonal decline from a recent seven-year high.

The latest on the trade war

On 4 March, new 25% blanket tariffs across all products exported to the USA from Canada and Mexico are now in effect. The only exception is Canadian energy products, which will be assessed a 10% tariff.

“It is completely shocking for the United States to treat a long-time and fair trading partner in this manner,” the Canadian Steel Producers Association said.

We really don’t know yet what and how severe the impact will be. But we do know ferrous scrap will become more expensive in the US. And it will be less expensive for Canadian mills. The larger consequences will be felt on the Canadian front. Even so, in the Southwest, the tariffs on Mexico will lower prices for Mexican scrap and might limit normal flows across the border.

These tariffs would significantly increase costs for American manufacturers that rely on Canadian metals. They would also disrupt supply chains and weaken economic ties that have benefited both nations for decades.

President Trump reaffirmed Monday afternoon that his 25% universal tariff on all imports from Canada and Mexico would take effect on Tuesday. “Tomorrow – tariffs 25% on Canada and 25% on Mexico. And that’ll start,” Trump told reporters Monday, according to an Associated Press report. “They’re going to have to have a tariff.”

The main impact of tariffs on scrap prices would be felt in Northern states - and especially among those along the Canadian border. Many steelmakers in this area receive a substantial portion of their monthly scrap charge from Canadian processors. Much of it is prime scrap used by hot-rolled (HR) coil producers.

The investment firm seeking to oust U.S. Steel’s leadership has asked the steelmaker to schedule its annual shareholder meeting after June 18. That’s the deadline set by the US government for USS and Nippon Steel to unwind their nearly $15-billion merger deal. Ancora Holdings Group sent a letter dated Feb. 27 to board members of […]

US rig counts remain just above multi-year lows, while Canadian activity is within earshot of a seven-year high.

On Thursday morning, Trump posted on Truth Social about Canada and Mexico: “the proposed TARIFFS scheduled to go into effect on MARCH FOURTH will, indeed, go into effect, as scheduled.”

Tuesday, March 4, marks the end of a 30-day delay in the levies.

"The second half of last year was especially bad with the steel demand from the automotive sector slowing down, construction activity lagging and industrial production taking a hit," the CEO said.

MPG Canada is laying off 140 workers across its facilities in Ontario and Quebec.

Do we want the benefits of the Section 232 tariffs to flow to the bottom lines of foreign steel and aluminum producers or to the US government and, ultimately, domestic manufacturers and their workers? In our view, the answer is simple. Section 232 exceptions do nothing more than lead to underserved profits for foreign manufacturers who are harming the US industrial base. That revenue could be used to pursue the Trump administration’s other policy priorities - such as deficit reduction or expanded tax cuts.

The latest oil and gas rig count in the US increased slightly from last week, while Canadian activity edged lower, according to Baker Hughes.

Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.

The latest in the new coated steel investigation and the expiry review of steel plate from six countries.

Unions members on both sides of the US-Canada border are speaking out against President Trump’s tariffs on Canadian steel. They say the tariffs threaten to disrupt supply chains and subvert decades of economic cooperation. The United Steelworkers (USW) has more than 850,000 total members in North America, with 225,000 in Canada.

The problem is that the situation in Washington is so fluid that no one really knows what to expect

While American steelmakers welcome the revival of the Section 232 tariffs on steel and aluminum imports, other nations' steel industries are calling for retaliation against President Trump's unilateral action of upping the levies on trading allies and removing all product exemptions.

Josh Spoores, principal analyst at CRU, will be the featured speaker on the next SMU Community Chat webinar on Wednesday, Feb. 19, at 11 a.m. ET. The live webinar is free. A recording will be available for free to SMU members. You can register here.