Category: Mexico

CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.

Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]

Steel buyers this week are lamenting weak demand, cautious buying, and So. Much. Uncertainty. I'm no doctor, but I suggest a dual diagnosis of extreme tariff fatigue and early-onset summer doldrums.

CDC Atlantic already houses 13 die-casting machines (ranging from 900 to 1,600 tons), three on-site furnaces, and shot blasting capabilities.

Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.

The owner of Liberty Steel and his family were among the six victims of a plane crash in Ohio on Sunday, according to local media reports.

A roundup of trade news, what's up with Brazilian pig iron, SMU's latest survey results and more to keep you up to date.

Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market.       US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]

Maybe some of this uncertainty will get ironed out ahead of Liberation Day tariffs resetting higher rates on July 9. But if I had to place a wager, it would be on more drama and last-minute brinksmanship - whether it comes to the Liberation Day tariffs or the various Section 232s that are in the works.

After a hot start to June, the CME ferrous derivatives complex has cooled down.

Steel market participants contend that buyers will remain in “wait-and-see" mode until some market stability is restored. 

Could the US and Mexico end up with a tariff-rate quota system?

Subsidized Chinese steel imports and cheap steel products from Association of Southeast Asian Nations (ASEAN) entering Latin American (LATAM) are threatening the region's steel market.

Not many people in the North American steel market had direct US involvement in another Middle East conflict on their bingo card. Prices weren't expected to shoot higher unless something unexpected happened. That unexpected something has now happened. And there is talk of oil at $100 per barrel. What does that mean for steel?

Your highlights on the week in trade developments, price increases, scrap news, and more.

The actions, which includes tariffs, are necessary to protect the Canadian market from global overcapacity. They are also needed because other countries have redirected material to Canada as a result of higher US tariffs, Carney said.

Could we see an abrupt shift now that oil prices have spiked higher? Will we see a rebound in the rig count? Will this create a snap-loading effect (think waterski rope), where the industry suddenly does a 180-degree turn? If so, will that bring with it increased demand for steel products used by the energy industry?

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Jeremy Flack of Flack Global Metals weighs in on USS, tariffs, and hedging in today's market.

Getting back to the price increases I mentioned at the top of this article, to what extent are they aimed at raising prices and to what extent are they aimed at stopping the bleeding that was happening in the second half of May, before President Trump announced the 50% tariff?

The Mexican government shut down two plants and warehouses operated by US-based LAU Industries.

Trade talks are progressing between the US and the market is contemplating the future of Section 232 tariffs.

Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.

Steel market participants learned that negotiations between the US and Mexico include discussions about Section 232 tariffs on steel and aluminum despite President Trump’s June 3 proclamation increasing the tariffs from 25% to 50% for all steel and aluminum imports—except for those from the UK. 

If you’re feeling a sudden jerk and a case of tariff whiplash coming on, you’re not alone.

Steel equities and steel futures fell hard after news broke earlier this week that the US and Mexico might reach an agreement that would result in the 50% Section 232 tariff coming off Mexican steel. The sharp declines didn’t make much sense, especially if, as some reports indicate, Mexico might agree to a fixed quota. They didn't make sense even if steel flows between the US and Mexico remain unchanged.

Never a dull moment in today's HR futures market.

The US steel industry is edging closer to independence from imports, and it may only take one more mill to tip the scales, according to Timna Tanners, managing director at Wolfe Research.

Even before the news about Mexico, I didn’t want to overstate the magnitude of the change in momentum. As far as we could tell, there hadn’t been a frenzy of new ordering following President Trump’s announcement of 50% Section 232 tariffs. But higher tariffs had unquestionably raised prices for imports, which typically provide the floor for domestic pricing. We’d heard, for example, that prices below $800 per short ton for hot-rolled (HR) coil were gone from the domestic market – even for larger buyers.

US steel exports totaled 579,000 short tons (st) in April, according to US Department of Commerce data. That's the lowest monthly volume recorded since July 2020.