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Latest news
Nucor ups HR spot price to $1,025/ton
Nucor raised its consumer spot price (CSP) for hot-rolled (HR) coil to $1,025 per short ton (st), up $10/st from last week.
Leibowitz on Trade: How war, tariffs, and politics interact
The ongoing Middle East conflict, the resurgence of broad-based tariffs under Section 122 of the Trade Act of 1974, and the looming US midterm elections are not isolated developments. Rather, they form a kind of feedback loop in which each issue influences, and is influenced by, the others.
Final Thoughts
Since the Supreme Court ruled the IEEPA (reciprocal) tariffs imposed by the Trump administration were illegal, the subject of refunds has been circulating. A lower court has ruled refunds are due to importers affected by these tariffs, which amounted to an estimated $166 billion.
Rig count plummets in Canada, steady in US
Oil and gas drilling in the US was basically steady in the week ended March 20, based on Baker Hughes’ latest report on the number of rotary rigs in operation. Drilling in Canada, however, continued to slide, with the country seeing a steep decline in its rig count.
Plate producers hold firm on pricing despite uneven demand
Plate market sources say the week has been quiet, but that overall, business remains consistent.
SMU Survey: Buyers’ Sentiment Indices strengthen
Steel buyers remain highly optimistic for their businesses’ chances for current and future success, according to SMU’s latest Steel Buyers’ Sentiment Indices.
AMU: Auto supplier to redevelop former Alabama steel mill site
This piece was first published by SMU’s nonferrous sister publication, Aluminum Market Update. To learn about AMU, visit their website or sign up for a free trial. An automotive supplier plans to turn a former steel mill site in Alabama into a facility to produce aluminum and plastic components for US automakers. Taiwan-based Minth Group Limited said the $430 million […]
CRU: The macroeconomic impact of conflict in the Middle East
The ongoing conflict in the Middle East has led to higher and more volatile energy prices, and impacts on numerous other commodity markets – in particular fertilizers and aluminum. If disruption to Middle Eastern supply continues, this will have a serious negative impact on the global economy.
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