US steel imports declined again in July
Following January’s pre-tariff surge, imports have remained low since February compared to post-pandemic volumes
Tag: Canada
Active rig counts slipped in US, Canada
Drilling activity slowed in the US and Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.
Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”
North American auto assemblies down in June
North American auto assemblies declined in June, down 10.6% vs. May. And, according to GlobalData, assemblies were 3.1% down year on year (y/y).
Active rig counts ease in the US, climb in Canada
Drilling activity slowed in the US and increased in Canada last week, according to the latest oil and gas rig count data released by Baker Hughes.
Trump says Canada deal might not happen: Report
President Trump said a negotiated deal with Canada might not occur, and all existing tariffs, along with those set to take effect soon, will stay in place, according to media reports.
Cliffs puts 'for sale' signs up after another big quarterly loss
Cleveland-Cliffs lost more than $400 million for the third consecutive quarter but predicted results would improve in the second half of the year. And shares of the Cleveland-based steelmaker surged after company executives said during its Q2 earnings call on Monday that they could make billions by courting foreign investors or selling assets.
Drill rig activity rises in US and Canada
Drilling activity increased in both the US and Canada for the week ended July 18, according to the latest data from Baker Hughes.
China hits out at Canadian tariff actions
The Chinese government has threatened countermeasures on Canada following the Canadian government's announcement on curbing steel imports, according to media reports.
Canadian PM moves to put tighter check on steel imports
Canadian Prime Minister Mark Carney has announced new measures to limit steel imports into the country.
Canadian agency reverses dumping decision, terminating CORE trade case
The Canada Border Services Agency has terminated a self-initiated dumping investigation of corrosion-resistant steel sheet (CORE) from Turkey.
OCTG producers in Canada take aim at Mexico, US, others
Evraz NA and Welded Tube of Canada have lodged an unfair trade complaint against imports of OCTG, including those from USMCA trading partners Mexico and the US.
Steel exports recovered in May but still historically low
US steel exports rose 10% from April to May but remained low compared to recent years. This came just one month after exports fell to the lowest level recorded in nearly five years.
US drilling activity falls further, climbs in Canada
US oil and gas drilling activity continued to decline for the 11th consecutive week, while Canadian counts climbed for the sixth week in a row, according to the latest data from Baker Hughes.
Algoma fires up EAF steelmaking with first arc
Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.
Drilling activity down further in US, climbs in Canada
The rig count declined for the 10th consecutive week in the US, while Canadian count rose for the fifth straight week, according to Baker Hughes.
Canada moves to curb steel imports with TRQs
Canada has implemented tariff-rate quotas (TRQs) on steel imports to help stabilize its domestic market.
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.
Canadian steel industry fears thousands of job losses from US tariffs
The Canadian steel industry is bracing for thousands of job losses because of US tariffs, the Canadian Steel Producers Association says.
CSPA, USW say Canadian government's steel action 'falls short'
CSPA, USW disappointed in Canadian government's actions on steel.
AMU: Canada tightens trade policy on tariff tensions
The moves include reciprocal procurement restrictions, import quotas, and the formation of stakeholder task forces for aluminum industries.
Canada, mirroring the US, plans to take harder line on imported steel and aluminum
The actions, which includes tariffs, are necessary to protect the Canadian market from global overcapacity. They are also needed because other countries have redirected material to Canada as a result of higher US tariffs, Carney said.
Final Thoughts
Getting back to the price increases I mentioned at the top of this article, to what extent are they aimed at raising prices and to what extent are they aimed at stopping the bleeding that was happening in the second half of May, before President Trump announced the 50% tariff?
US and Canada talk trade, market contemplates fate of S232 steel protections
Trade talks are progressing between the US and the market is contemplating the future of Section 232 tariffs.
AMU: The art and science of Midwest Duty-Paid Premium discovery
Hashing out duty costs
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
April steel exports fall to lowest level since 2020
US steel exports totaled 579,000 short tons (st) in April, according to US Department of Commerce data. That's the lowest monthly volume recorded since July 2020.
Miller on Scrap: More malaise, or will tariffs lead to higher prices?
If we review the price trends for the last two years, we can see this year’s pattern following a similar path.
Canada claps back on Trump tariff news
Meanwhile, several US trade groups applauded the latest trade announcement.