Tag: Imports

The decisive factor remains the 50% Section 232 tariffs. Still, imports from Europe remain largely near parity with domestic material, while Southeast Asian products are at a considerable discount.

This item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com. Chinese steel export prices remained rangebound on persistently weak demand. Indian hot-rolled (HR) coil export prices fell amid elevated freight rates and European caution, while Turkish HR coil export prices came under pressure from EU quota exhaustion.  […]

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

Hot-rolled coil market participants continue to see spot prices rise alongside the popularity of the beloved, short-spined Seattle raccoon this summer. 

Speaking on the company’s second-quarter earnings call, executives described a sheet market defined by broad-based demand, disciplined pricing behavior, and a structural shift in customer buying patterns.

Foreign steel is gaining traction with US buyers, according to SMU's most recent Flat-Rolled Steel Survey. Most manufacturers and service centers now report competitive pricing, and more are placing new foreign orders.

Sources across the hot-rolled coil spot market said it was somewhat easier to find spot HR, at moderately shorter lead times, and at stable prices in recent days. 

The US Department of Commerce is adjusting the import duties on Korean cold-rolled and galvanized steel after two administrative reviews.

Spot market absorbs price hikes amidst booming plate demand 

Apparent steel supply jumped 8% from April to May to a near four-year high, according to recent Department of Commerce and American Iron and Steel Institute (AISI) figures.

Downstream consumers of steel account for many times the employment in steel production. Yet the tariff manufacturers in the federal government have paid scant attention to the needs of most manufacturers.

SMU’s average price for domestic HR remained flat, holding firm for the past three weeks. In offshore markets last week, prices mainly moved higher.

Barry Zekelman showed up to last Wednesday’s SMU Community Chat as his usual self: energized, blunt, and unapologetically bullish on the US steel industry.

Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.

On the heels of SSAB’s price hike, further domestic mill increases to spot market plate seem inevitable to some participants but unlikely to others. 

Cold-rolled (CR) coil prices were unchanged in the US this week, while offshore prices varied, though mostly trended up.

If a trend of flat lead times holds, it would represent a change. And we’ve also seen a few of the other indicators we track slip from historic highs – so the potential shift is worth paying attention to.

Toyota Motor North America plans to invest $3.6 billion to expand its San Antonio manufacturing campus.

SMU’s average price for domestic HR was unchanged vs. last week. In offshore markets last week, while prices diverged, the dynamic between stateside and imported product varied little.

The investigation follows requests from US producers Nucor and Steel Dynamics.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

Imports from Europe are at parity with domestic hot rolled, while Southeast Asian products remain at a considerable discount. The result comes because a stateside rally coincides with faltering offshore prices.

Hot-rolled coil spot market participants told SMU they see no evidence of the market softening in the near term.  

Limited spot product and extended lead times continue to characterize the domestic plate market, prolonging upward price pressure.

North American steel buyers are navigating a market where demand is firming, but import activity remains cautious. Buyers reported mixed import activity in SMU’s June 26 flat-rolled steel buyers’ survey.

Cold-rolled coil prices moved higher in the US this week, as offshore prices trended lower. Imports are, as a result, increasingly more competitive, even with the 50% Section 232 tariff.

Domestic steelmakers told the Congressional Steel Caucus that strong trade enforcement and Section 232 tariffs continue to drive higher production, new investment, and facility restarts nationwide.

Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations. 

SMU’s average price for domestic HR was $1,145 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices moved down, largely maintaining a trend seen since late April.

Galvanized sheet buyers and distributors report that strong demand and constrained supply persist, exerting upward pressure on prices.