President Donald Trump on Wednesday said he would increase the “reciprocal” tariff on imports from Brazil to 50% effective Aug. 1. That could have big implications for pig iron.
Global raw steel production dipped from March to April, according to the latest release from the World Steel Association.
“The lack of effective measures to create fair competition, amid a surge in subsidized imports, is the main threat to the sustainability of Brazil’s steel industry and its value chain,” CEO Marcelo Chara said.
The steelmaker now expects the new steel slab mill in Pesquería will begin operations by Q4’26.
The steel industry may have to wait even longer for the initial duty determinations in the pending coated steel unfair trade investigations.
A bleak outlook for steel demand has undermined market confidence, contributing to the drop in prices.
With climbing imports and falling consumption, the Latin American steel industry has had a challenging 2024, according to an Alacero report.
September steel imports were 10% less than August levels, marking the lowest monthly import rate seen this year
Primetals Technologies renewed two long-term maintenance service contracts with steel producers in the Americas.
August steel imports totaled 2.38 million short tons (st) according to final data released this week by the US Commerce Departmen
SMU is pleased to share the latest news from the global pig iron markets from our sister publication, Recycled Metals Update.
Former U.S. Steel executive Kenneth Jaycox is moving from steel to the automotive parts industry.
The prices for the July market weren’t settled until July 8 and now we are approaching the formation of the August market.
The majority of steelmaking raw material prices declined in June, following the same trend seen in May, according to SMU’s latest analysis.
I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).
There are a lot of rumors swirling around the steel market over the last couple of weeks. Chief among them was that we might see a price hike after Independence Day. Another concerns a key detail in the new Section 232 agreement with Mexico. Namely, steel imported from Brazil into Mexico. Of particular interest is its potential implication for slabs imported from Brazil, rolled in Mexico, and then exported to the US.
A roundup of CRU aluminum news.
The Mexican government said on Thursday that it had negotiated a temporary carve out for Brazilian steel in recently updated Section 232 rules. Mexico said that the pact would stretch until 2027, by which point all steel exported to the US would have to me “melted and poured” within North America.
Steel Warehouse plans to expand in Jefferson City, Tenn., with an investment of ~$20 million.
US steel imports registered a steep decline from May, with June licenses falling to the lowest monthly level so far this year.
Following April’s eight-month high, May represents the second-lowest export rate of the year, only greater than January’s 771,000 st level.
A roundup of aluminum news from CRU.
Steelmaking raw material prices have generally declined over the past month according to SMU’s latest analysis.
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]
The conventional wisdom is that sheet prices will trend down for the next few weeks (maybe the next two months) before rising again in August – around when lead times stretch into the busier fall months. We see that reflected in our survey results and in market chatter. And there are plenty of data points to choose from if you want to support of that position.
A roundup of recent aluminum news from CRU.
Pig iron prices have been trending higher in all key markets besides Europe. Limited exports from Brazil and Ukraine are contributing to higher prices in the USA, though soft demand cushioned a sharp price upswing. In the US, pig iron prices increased by $15 per metric ton (mt) m/m to $485/mt CFR NOLA. Buying activity […]
Alacero has named new top leaders to help guide the Latin American steel association through its ongoing transformation and modernization process.
Cleveland-Cliffs is potentially eyeing a buy of NLMK USA’s Midwest assets, according to a report in Bloomberg.
Steelmaking raw material prices have moved in different directions over the past month, according to SMU’s latest analysis.