Category: Overseas

US cold-rolled (CR) coil prices continued to tick higher this week, while offshore markets were mixed.

The document makes clear that Nippon Steel, through Nippon Steel America, will have “100% ownership of [the] common stock.” So if you want to own an interest in U.S. Steel’s future success, you will need to buy shares in Nippon Steel on the Nikkei stock exchange. It certainly will not be in your domestic S&P 500 ETF.

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

The forceful headwinds bearing down on steel markets across the globe have created demand challenges and sent prices southward. The US, however, challenged the global trend.  

The moves include reciprocal procurement restrictions, import quotas, and the formation of stakeholder task forces for aluminum industries.

US hot-rolled coil prices crept up again this week but still trail imports from Europe.

Freight rates have risen $30-$50 on transatlantic cargoes, depending on the final destination.

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.

US cold-rolled (CR) coil prices edged up again this week, and most offshore markets moved in the opposite direction. But the diverging price moves stateside vs. abroad did little to impact pricing trends. The bigger impact was from Section 232, which were doubled to 50% as of June 3. The higher tariffs have resulted in […]

In short, when tariffs go up, jobs in consuming industries go down. There is conclusive evidence from past actions: safeguard tariffs in 2002 and Section 232 tariffs in 2018. It is happening again in 2025. The Trump administration wants foreign producers (and US retailers) to absorb tariff increases (except in antidumping cases, where foreign absorption of tariffs is illegal).

Hashing out duty costs

Despite high expectations, the export scrap market has not moved up.

Subdued demand has continued to weigh on steel sheet prices globally.

Domestic hot-rolled (HR) coil prices edged up marginally again this week, while offshore prices ticked down.

Domestic hot-rolled coil prices edged up marginally this week, while offshore prices ticked down.

This CRU Insight examines how the increase in Section 232 tariffs on steel to challenging levels will lead to significatively higher prices for end consumers in the US market.

The US scrap market has traded sideways from May prices in basically one day without any significant descent, sources say. All major steelmakers, with maybe one exception, issued orders at prices paid in May.

President Donald Trump on Tuesday evening signed a proclamation that officially doubled Section 232 tariffs on imported steel and aluminum from 25% to 50%. There was one exception: Section 232 tariffs on steel and aluminum from the United Kingdom will remain at 25%, according to a fact sheet published by the White House.

The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.

Late Friday, President Trump said he would double down on tariffs, raising duties on imported steel and aluminum from 25% to 50%.

Domestic hot-rolled coil prices moved lower again, maintaining the downward move seen in eight of the last 10 weeks.

Germany’s Klöckner & Co. reported a narrower loss in the first quarter as the company targets becoming the “leading” service center and metal processing firm in North America and Europe by 2030.

The threat of tariffs over the past two months has been a springboard for US prices. But the Section 232 reinstatement on March 13 narrowed the domestic premium over imports on a landed basis.

The European Commmission is reducing the amount of tariff-free foreign steel that can enter the EU.

The European Commission unveiled A European Steel and Metals Action Plan aimed at safeguarding the European Union’s steel and base metals production.

The price spread between stateside-produced CR and imports reached its widest margin in over a year.

Hot-rolled (HR) coil prices continued to rally in the US this week, quickly outpacing price gains seen abroad. The result: US hot band prices have grown widely more expensive than imports on a landed basis. The premium US HR tags carry over HR prices abroad now stands at a 14-month high. SMU’s average domestic HR […]

President Donald Trump indicated in a cabinet meeting Wednesday that a 25% blanket tariff on all imports is coming for the EU next.

SMU's Stephen Miller provides an update on the raw materials sector.