US steel industry groups representing most of domestic steel production are urging the Trump administration to tighten trade measures on steel imports from South Korea. They are seeking a South Korea-specific tariff-rate quota (TRQ) and an investigation into a reported import surge.
Several steel trade organizations have called on President Trump to resist weakening Section 232 steel tariffs.
The domestic plate market is showing few signs of relief for steel buyers. Lead times are stretching well beyond seasonal norms, spot availability has all but evaporated, and mills are drawing hard lines on contract volumes heading into 2027 negotiations. And the supply squeeze will likely intensify in a market that some industry sources say is structurally undersupplied because of stringent US trade and tariff policies. Imports have been arriving in larger volumes, and the expectation is they will continue to tick higher into 2027. The big question is whether those foreign tons will arrive in volumes sufficient to provide the relief steel consumers want.
The rally in steel sheet prices is officially a year old. We haven’t seen a yearlong price rally since 2021, when a snapback in demand following the early days of the pandemic resulted in one of the biggest steel market booms since World War II.
A policy that protects steel production while making downstream American manufacturing less competitive internationally merely moves the injury along the domestic supply chain.
The retaliatory measures—which include 50% tariffs on US steel and aluminum—came after trade talks between Washington and Ottawa collapsed last month.
First, a big thank you to everyone who attended SMU Steel Summit this week and the inaugural AMU Aluminum Summit as well. I’m not going to crow too much about it being another record year in terms of attendance. But it was—and you made that possible. Also, it’s always great to see the entire steel […]
SMU’s average price for domestic hot rolled (HR) rose to $1,200 per short ton (st) week on week (w/w). In offshore markets, prices also rose, outpacing stateside gains.
The SMU Steel Summit kicks off on Monday in Atlanta, and we could spend the entire time just discussing trade developments since the last Summit.
Trade talks between the US and Canada collapsed late on Friday, just hours after media reports that an accord was near.
SMU’s average price for domestic hot rolled (HR) rose to $1,195 per short ton (st) week on week (w/w). In offshore markets, prices saw a more controlled rise.
A potential trade deal with Canada and a possible reduction in Section 232 tariffs has rocketed back into the news just a few weeks after it seemed like negotiations between Washington and Ottawa were kaput.
S232 tariffs of 50% provide a signal to domestic producers. Domestic prices have risen by approximately 50%. Similarly, the tariffs have simply moved the competitive threshold for imports 50% higher.
We’re a little over a week away from the opening of SMU Steel Summit, one of the largest gatherings of flat-rolled steel professionals in the world. If you’re registered, I encourage you to download the conference app. You’ll use it not only for networking but also to ask questions to our speakers. You’ll also need […]
The US Commerce Department is seeking additional comments on 14 derivative items for possible Section 232 duties.
SMU’s average price for domestic hot rolled was unchanged week on week at $1,180 per short ton. In offshore markets, prices mainly moved up.
It’s tough to find a new angle to write about in a market that continues to be characterized by the same trends. You know the ones: extremely limited spot tons, long lead times, low inventories, and high prices.
SMU’s average price for domestic HR rose to $1,180 per short ton (st) this week, $15/st higher vs. the prior week. In offshore markets last week, prices mainly moved up.
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.
Algoma Steel narrowed its earnings loss by 13.2% in the second quarter as the company's electric-arc furnace (EAF) steelmaking ramped up further.
The US government has requested that Mexico impose tariffs similar to Section 232 on steel and aluminum imports from outside North America, according to a report in Bloomberg on Sunday.
The busy summer for US trade, which we wrote about previously, is heating up with new Section 301 forced labor duties of 10-12.5% imposed on 60 countries and new Section 338 duties of 50% announced on certain Canadian imports.
Cleveland-Cliffs’ top executive said any restart of the blast furnace at its Dearborn Works in Michigan hinges on automakers reshoring more production to the US.
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.
Notably, pig iron is not excluded from the proposed Brazil measures. This would represent a change from the Brazil EEPA tariffs, which excluded pig iron.
Cold-rolled (CR) coil prices were unchanged in the US this week, while offshore prices varied, though mostly trended up.
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.
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.
Cleveland-Cliffs plans to upgrade its ironmaking process at Middletown Works, according to a permit filing with the Ohio EPA.
We asked our readers what they thought the outcome of the ongoing USMCA talks might be as far as Section 232 tariffs go. Very few see an elimination of tariffs as likely.