Category: Trade/Traders

Apparent steel supply rose to 8.64 million short tons in September, driven primarily by higher domestic mill shipments despite a sharp drop in finished imports.

The European Commission is aiming to have Section 232 tariffs eased on steel and aluminum, with a special eye towards derivative products as well, as it negotiates with the Trump administration, according to a report in Politico on Dec. 15.

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.

US Congressmen Mike Kelly (R-Pa.) and Chris Deluzio (D-Pa.) have introduced the Strengthening Trade Enforcement and Evasion Limitations Act (STEEL Act) into the House of Representatives. The bipartisan bill aims to curb unfairly traded imports and strengthen US trade enforcement.

In our opinion, it is striking that for all the bold talk about establishing a "common external tariff" — or "Fortress North America" — the solutions being proposed fail to live up to their promises. As we have commented recently, USMCA certainly needs a rethink. But we have serious concerns about Canadian and Mexican proposals that suggest common trade policies that are, as we see it, more illusory than effective.

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

The Coalition for a Prosperous America (CPA) is urging the Trump administration to keep Section 232 steel and aluminum measures focused on rebuilding US capacity, rather than using them as bargaining chips in unrelated negotiations.

The price gap between stateside hot band and landed offshore product has inched closer to parity, now at its lowest level since the summer.

A steelmaker in the Southeast has entered the market for shredded, P&S, and HMS at prices of $20/gt over November.

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

US steel imports declined considerably in September and October, with trade falling to reduced levels not seen in nearly five years.

Wiley attorneys Alan Price and Ted Brackmeyer argue that significant changes to the USMCA and continued Section 232 tariffs on Canada and Mexico are needed to support American steelmaking.

You may have heard about traders “canceling” metal on the London Metal Exchange and shipping it out. Here's a guide to understand that process.

The whole world waits for the Supreme Court to rule on the validity of President Trump’s International Emergency Economic Powers Act (IEEPA) tariffs. Meanwhile, the ground is shifting. Just this past week, the president changed the direction of tariff policy. He belatedly concluded that taxes on imports of products that we don’t make in the United States are inflationary

International Resources Holding (IRH) fund, an Emirate enterprise, is rumored to be discussing the purchase of Duferco International Trading Holding (DITH), according to the Swiss-based daily, La Regione.  

It was only a matter of time before a shutdown happened. And, no, we aren’t talking about the federal government’s lapse in appropriations. On Oct. 9, Beijing announced a series of restrictions that will effectively shut down exports of rare earth elements, magnets, and certain downstream products vital to advanced manufacturing.

US President Donald Trump took to social media late Thursday night to announce he was canceling trade talks with Canada.

On Oct.10, President Trump announced major increases in tariffs on Chinese goods. The trigger was a new regime of export controls on rare earth metals and products using those elements, including magnets, capital equipment, and catalysts for catalytic converters in cars and trucks.

The Department of Commerce received 97 submissions from producers, manufacturers, and groups seeking Section 232 tariff coverage for steel and aluminum derivative products.

Any steel imports into the EU that exceed the new, lower quota level would be subject to a 50% tariff, which represents a major increase from the EU’s current 25% out-of-quota tariff. This move would largely align the EU’s steel tariff rate with Canada and the United States.

Global steelmakers sounded the alarm Friday over the deepening excess steelmaking capacity crisis. Ministers at the Global Forum on Steel Excess Capacity (GFSEC) in Gqeberha, South Africa, pledged to...

The boom in China’s direct steel exports has not stopped this year, even with a rise in protectionist measures globally. The increase is driven by...

U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.

Canadian Prime Minister Mark Carney and US President Donald Trump told reporters at the White House on Tuesday that they’ll be formulating a trade deal that works for both nations.  

There is no doubt that the current government shutdown reflects the vast divisions between the extremes of American politics, society, and even geography. Almost all Americans agree that government is necessary, but voters disagree...

How can the U.S. government block U.S. Steel’s Granite City rolling mill closure without harming other American steelmakers? Reducing imports should be the first step. Foreign producers continue to aggressively target the U.S. market, especially now as they find themselves displaced by Chinese exports.

Domestic mills praised the US International Trade Commission’s (ITC's) final determination that imports of corrosion-resistant (CORE) steel from 10 countries pose a threat to them.

The US International Trade Commission (ITC) finds that corrosion resistant steel (CORE) imports from 10 countries have caused material damage to domestic product producers, according to the ITC’s statement.  

Signs of weakness are already appearing in the tariff wall. The economy has slowed to the point that the Federal Reserve cut interest rates by 0.25%, or 25 basis points, last week. The cut came even as the rate of inflation continues to hover well above the Fed’s 2% target rate.

International trade law and policy remain a hot topic in Washington and beyond this week. We are paying special attention to the ongoing litigation of the president’s tariff policies and the administration’s efforts to heighten trade enforcement.