Category: South America

After reaching historic lows late last year, import volumes have increased each month of 2026, according to recently released US Commerce Department data.

One possible reason for the lull in activity is the ambiguity of the tariff treatment of Brazilian pig iron following an announcement last week from the Office of the US Trade Representative (USTR) about Section 301 tariffs.

The Office of the US Trade Representative has proposed a Section 301 tariff carve-out for direct-reduced iron (DRI) and hot-briquetted iron (HBI) from Brazil while planning higher tariffs for other major suppliers.

The next few months are poised to be momentous for US trade and tariff policy. Of note, the United States, Mexico, and Canada are beginning the six-year review of the US-Canada-Mexico Agreement (USMCA).

Steel imports could become even more prohibitive, facing even higher tariffs, pending the outcome of the Trump administration’s Section 301 investigation.

The total volume of raw steel produced around the world fell 4% in April following the one-year high seen in March, per World Steel Association figures.

This item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com. The uptrend in sheet prices is expected to continue in the coming month in most markets amid elevated energy and freight costs stemming from the Middle East conflict. Europe will buck the trend as demand in the […]

The Iran war and the blockade of the Strait of Hormuz have sent oil and aluminum prices soaring higher. The impact on steel has been mostly indirect but hardly insignificant – especially when it comes to the costs of moving metal.

Following the historical lows seen in recent months, steel import volumes marginally increased in March and April.

Ternium SA’s profits more than doubled in the first quarter as work continues to advance at its industrial center in Pesqueria, Mexico.

The prevailing sentiment for May is that #1 busheling and bundles are likely to increase. This may cause pig iron to continue its upward trajectory.

World crude steel production for the 69 countries reporting to the World Steel Association (worldsteel) totaled an estimated 159.9 million metric tons in March. Production jumped 12.8% from a shorter February, but was down 4.0% from March 2025, according to newly released data.

Over the past few years, the slab market has changed significantly – Iran filled the position previously occupied by Ukraine before the war, Brazilian merchant slab supply fell, and the introduction of CBAM drew more interest into slab imports to the EU. 

Conditions in the US market remain tight as domestic demand is holding up with support from border wall projects and data center investments. The supply side has struggled to keep pace with weak import volumes, impacting the market. 

US steel exports held steady from January to February and remain near historical lows.

Global steel demand is stabilizing and poised for a gradual recovery through 2027, with North America expected to post solid, policy-supported gains, according to the World Steel Association’s latest Short Range Outlook.

Prices for iron ore, aluminum, pig iron, and shredded scrap have all risen in the last 30 days. Busheling scrap held steady, while zinc and coking coal declined.

We just wrapped up another Steel 101 workshop. But this time, we had the privilege to take the most hands-on industry workshop on steelmaking and market fundamentals abroad.

Trade for many of the sheet and plate products we follow has fallen to multi-year lows through December.

Gerdau’s North American operations closed the fourth quarter of 2025 with another solid performance, according to its parent company’s most recent financial report. Supporting the steelmaker are resilient demand in key end-use markets and a continued rebalancing of domestic supply and imports.

Steel imports slowed further in December and January to some of the lowest volumes recorded in recent years.

Ternium SA has completed its buyout of Nippon Steel and Mitsubishi’s shares in Brazilian flat-rolled steelmaker Usinas Siderúrgicas de Minas Gerais SA – Usiminas (Usiminas).

November steel exports tumbled 15% from October to the lowest monthly export rate since July 2020.

Steel imports remain weak in November and December according to recently released final US Commerce Department data. Many of the sheet and plate products we follow slipped to multi-year lows.

US steel imports have fallen sharply under the new 50% Section 232 tariff regime. Jerry Richardson, general director of CSN LLC, discussed on an SMU Community Chat this week how the market is now structurally tighter and more volatile than at any point in the past decade.

The volume of steel shipped outside of the country increased 11% from September to October 2025 to a seven-month high of 662,000 short tons (st), according to recently released data from the US Department of Commerce.

The US Department of Commerce has officially published the anti-dumping and countervailing duty orders on corrosion-resistant steel sheet imports, the final step in the trade case originally filed more than a year ago. At the same time, Commerce also revealed it is allowing some CORE imports into the country without paying the AD or CVDs.

Following August’s modest 4% uptick, the volume of steel shipped outside of the country slipped 8% in September to 594,000 short tons, according to recently released data from the US Department of Commerce.

According to recently finalized US Commerce Department data, US steel imports tumbled to a near five-year low in September

The situation has altered in the Brazilian pig iron market since our last update on Nov. 13. At the time, we reported things were at a standstill for sales to US-based steelmakers.