Tag: Section 232

U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.

The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.

Trade groups cautioned that a prolonged shutdown could strain US industry.   

Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.

How can the U.S. government block U.S. Steel’s Granite City rolling mill closure without harming other American steelmakers? Reducing imports should be the first step. Foreign producers continue to aggressively target the U.S. market, especially now as they find themselves displaced by Chinese exports.

Algoma Steel has publicly confirmed that it might scale back its presence in the US market. It's no secret why: 50% Section 232 tariffs remain in place against Canada, which has traditionally been one of our closest allies.

SMU’s average price for domestic hot-rolled (HR) coil held at $785 per short ton (st) this week, unchanged week on week (w/w). A similar dynamic was seen in offshore markets last week as well.

Canadian flat-rolled steelmaker Algoma Steel is reconsidering its presence in the US market after the doubling of US Section 232 tariffs on imported steel to 50%, a company spokeswoman said.

But, for better or worse, there is not a major political party championing unfettered free markets. While Democrats and Republicans don’t agree on much, both have cheered tariffs on steel. And so if you’re going to handicap any future decision on Granite City’s operations, including its blast furnaces, you’d better factor in politics at least as much as economics.

Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in offshore markets as well.

We’ve been talking about a potential inflection point for the past couple of weeks. And the market does appear to be nearing one.

With only a modest decline in US prices, HR imports, on a landed basis, remain much more expensive than domestic hot band.

Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets mostly diverged and ticked higher.

Sheet prices are expected to increase in the coming weeks in most markets. However, rising domestic capacity in the US, subdued demand in Europe, and high inventory levels in China and India will limit price near-term uptrend.

Domestic hot-rolled (HR) coil prices ticked down this week after holding flat since mid-August. Offshore prices largely all moved higher week over week (w/w), widening the margin between stateside and foreign product.

President Trump’s “reciprocal” tariffs under the International Emergency Economic Policy Act (IEEPA) were struck down again, this time on Aug. 29 by the Court of Appeals for the Federal Circuit (CAFC). The legal and policy mess continues, with the next stop being the US Supreme Court.

Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on. 

Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets diverged and ticked higher.

Domestic hot-rolled (HR) coil prices were flat this week for a third straight week. Offshore prices all moved higher w/w, widening the margin between stateside and foreign product.

Steel industry analysts at this year's SMU Steel Summit said they see lackluster demand through this year and next.

SMU’s hot-rolled (HR) coil price held steady this week while prices for other sheet and plate products declined.

Another record-breaking SMU Steel Summit is in the books. Thanks to all of you – attendees, speakers, sponsors, and exhibitors – for making it possible it in what has been an uncertain year for steel.

Domestic hot-rolled (HR) coil prices were flat this week, while offshore prices varied week over week (w/w). The price margin between stateside and foreign product was little changed as a result.

The big show is here again. SMU Steel Summit begins on Monday. This year, like last year, more than 1,500 people will be joining us. And I couldn’t be more excited to have everyone here in Atlanta.

As everyone surely knows by now, the SMU Steel Summit starts on Monday in Atlanta, Ga. So, this is a great opportunity to reflect on how much has changed since the 2024 Summit. Certainly, no one could have imagined the wholesale and transformative changes to U.S. and global trade policy.

HRC prices in the US eroded further last week, while offshore prices varied week over week (w/w), widening the price margin between stateside and foreign product.

Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets diverged and ticked higher.

Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices ticked higher again week over week (w/w).

US President Donald Trump extended the US and China’s 90-day pause on planned reciprocal tariffs on Monday.

Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices increased week over week (w/w).