Tag: EU

The UK will reduce steel import quotas and raise outside caps to 50%.

Global steel plate prices are expected to trend upward as North American restocking and European regulatory costs will drive the market, even as recovery in Asian markets remains gradual and cost-dependent.

A €1.3 bn ($1.55 bn) project to install a 2 Mt/y electric arc furnace at Dunkirk, northern France, will go ahead, ArcelorMittal confirmed during a site visit to the integrated steel works by French President Emmanuel Macron.

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.

Rising Midwest and European premiums are giving Canadian aluminum producers a rare boost, restoring pricing power just ahead of key 2026 negotiations.

Several EU member states have published a ‘non-paper’ that puts forward proposals for a post-safeguard trade measure.

As the president’s August 1 tariff deadline approaches, the “Let’s Make a Deal” game show returns to primetime (the Monty Hall version, of course). As the administration begins rolling out trade deals, we are starting to see what’s behind door number one and who is getting a “zonk.”

The moves include reciprocal procurement restrictions, import quotas, and the formation of stakeholder task forces for aluminum industries.

Hashing out duty costs

The European Union is fast-tracking trade negotiations with the US in the hope of avoiding the 50% tariffs threatened by President Trump.

Trump threatens EU with 50% tariff starting June 1.

The European Commmission is reducing the amount of tariff-free foreign steel that can enter the EU.

Canada and the European Union are retaliating against what they deem to be unjustified tariffs on steel and aluminum by the United States.

President Donald Trump indicated in a cabinet meeting Wednesday that a 25% blanket tariff on all imports is coming for the EU next.

US sheet prices surge following tariff announcement

The European Commission has initiated a trade case investigating allegedly dumped hot-rolled coil imports from Egypt, India, Japan, and Vietnam. The European Steel Association (EUROFER) filed the complaint in June, according to an Aug. 8 notice in the Official Journal of the European Union.

GrafTech cited a “challenging” part of the business cycle as its net loss widened in the second quarter.

The volume of steel shipped into Vietnam more than doubled in May to 1.1 million (mt), with China’s share above 70%, according to customs’ statistics. In the first five months, Chinese imports were more than 4.7 million mt, an increase of 91% year on year.

North America has one of the most robust steel scrap markets in the world. The continent has a long history of steel production, significant imports of steel and steel-containing products, and mature steel consumption. Due to this, the reservoir of scrap available to be recycled each year in the US and other North American markets is substantial and growing.

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 […]

Please enjoy this roundup of recent news from the aluminum industry from our colleagues at CRU. EU to hit Chinese electric cars with tariffs up to 48% The European Commission notified carmakers on June 12 that it would provisionally apply additional duties of 17-38% on imported Chinese EVs from next month. The duties will be […]

The US scrap market is quiet as we pass through June. Speculation about the direction of July is mixed, with most sentiment neutral or bearish. The concerns are about demand during the summer months. There are still several planned outages and other cutbacks at various mills that could limit overall demand for recycled steel scrap.

A roundup of recent aluminum news from CRU.

President Joe Biden announced that the US will extend the suspension of Section 232 tariffs on steel products imported from Ukraine for another year. The Biden administration first lifted the 25% Section 232 tariffs on steel imports from Ukraine after the breakout of war with Russia in 2022. The initial waiver was good for one […]

As the US slides further into protectionism as the solution for our trade problems, a solution that will put us in a position to succeed in the growing economic battle with China is yet to be discovered. The tariffs on China, which President Biden doubled down on, are not working—at least if the goal to out-compete China and other growing economies. China is not our only problem. But it is our No. 1 challenge right now, in geopolitics, potential hostilities, and economics. EVs are a sign of this challenge.

Steel sheet prices across most regions of the world were little changed this week. European buyers remain cautious regarding their outlook towards end-use demand and largely remained out of the market. A similar trend was seen across Asia, although skepticism on real estate stimulus measures in China led to w/w price falls. In the US, […]

U.S. Steel and Nippon Steel Corp. (NSC) said they have received all regulatory approvals outside of the US for the proposed sale of USS to the Japanese steelmaker.

The free market operates best when it is freest. But all governments intervene in markets in response to conditions that threaten peaceful progress. President Biden decided last week that market intervention was justified. He approved a report from the US Trade Representative (USTR) that recommended continuing the “Section 301” tariffs on Chinese imports into the United States.

The EU has approved Tokyo-based Nippon Steel Corp.’s (NSC’s) proposed buy of U.S. Steel, a report in Reuters on Monday said.

Steel sheet prices in many regions of the world were steady week over week in the week ended April 17.