Eyes often glaze over when trade lawyers talk about the intricacies of antidumping law to what lawyers sometimes patronizingly call “laymen.” With a clear understanding of that risk, today’s piece dives into a recent decision by the Court of International Trade dealing with the Commerce Department’s treatment of Section 232 duties on steel in antidumping […]
Last Thursday, policy wonks observed the confirmation hearing of Katherine Tai to be the new United States Trade Representative, replacing Robert Lighthizer. When a new administration takes over, the previous leadership departs at noon on Jan. 20 and “acting” leadership assumes authority, but generally not much power. The new team is nominated, typically on Jan. […]
Last Thursday, policy wonks observed the confirmation hearing of Katherine Tai to be the new United States Trade Representative, replacing Robert Lighthizer. When a new administration takes over, the previous leadership departs at noon on Jan. 20 and “acting” leadership assumes authority, but generally not much power. The new team is nominated, typically on Jan. […]
An interesting feature of trade remedy law, by which I refer to as antidumping, countervailing duty, safeguards and Section 232 import “adjustments,” is alleged circumvention of these orders. Readers have asked questions about this subject, which can catch downstream users and importers unawares. Circumvention refers to processing goods that are subject to trade restrictions (duties […]
An interesting feature of trade remedy law, by which I refer to as antidumping, countervailing duty, safeguards and Section 232 import “adjustments,” is alleged circumvention of these orders. Readers have asked questions about this subject, which can catch downstream users and importers unawares. Circumvention refers to processing goods that are subject to trade restrictions (duties […]
A court decision last week highlights the limits Congress placed on presidential authority under Section 232 of the Trade Expansion Act. In PrimeSource Building Products v. United States (decided April 5), the Court of International Trade ruled that presidential Proclamation 9980 (issued Jan. 24, 2020), imposing tariffs on certain steel and aluminum “derivative products” was […]
Count me as an optimist—that events move, sporadically and inconsistently, but generally toward progress. I received a lot of messages during the past week that wondered openly whether talks between the United States and the European Union might lead to an end to the steel and aluminum tariffs that have been in effect since 2018. […]
Count me as an optimist—that events move, sporadically and inconsistently, but generally toward progress. I received a lot of messages during the past week that wondered openly whether talks between the United States and the European Union might lead to an end to the steel and aluminum tariffs that have been in effect since 2018. […]
Two phenomena that we have not seen in a long time have recently appeared. Whether they are short-term events or long-term realities is provoking debate. I am speaking of the distinct but related issues of inflation and shortages of, it seems, nearly everything. Inflation was a major factor in the U.S. economy throughout the 1970s. […]
President-elect Joe Biden will hit the ground running due to his past experience in Washington and the depth of experience of his Cabinet choices, said Omar Nashashibi, founding partner of the Franklin Partnership, during a FABTECH webinar last week. Expect to see a flurry of executive orders and memorandums from the new executive office regarding […]
By CRU Analyst Estelle Trans, from CRU’s Global Steel Trade Service U.S. buyers have been watching sheet steel prices skyrocket and found themselves weighing high-priced imports out of necessity. The steel market remains supply short, even with the restart of U.S. Steel Gary No. 4 this month, and market contacts expect that the market will […]
Steel supplies are so tight these days that $1,000 hot rolled is not out of the question. Which makes predictions of a coming “Steelmageddon” seem that much harder to believe. In fact, 60 percent of the service center and manufacturing executives who responded to Steel Market Update’s questionnaire this week do not view Steelmageddon as […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 20.2% m/m in December to 275.2. This large increase was driven by a rapid acceleration in global finished steel pricing. Even with this large m/m increase for December, we again expect metallics prices to rise in […]
Panelists in a webinar presented by the Alliance for American Manufacturing on Wednesday said an infrastructure bill and sensible trade policy should be top priorities for the new administration. Entitled “How Can President-Elect Joe Biden Build Back Better,” panel members discussed what the Biden administration will need to do to rebuild the economy. Rep. John Garamendi (D-CA) […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. During the […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. The CME […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. This charts […]
Editor’s note: SMU Contributor David Feldstein is president of Rock Trading Advisors. David has over 20 years of trading experience in financial markets and has been active in the ferrous futures space for over eight years. You can learn more at www.thefeldstein.com or add him on twitter @TheFeldstein and on Instragram at #thefeldstein. So far […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The transition to a new administration is now strongly under way. Tomorrow, the president-elect is set to name additional members of his economic team, including the roster of international trade officials. The time for speculation is over since […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: As the 2020 election approaches its final chapters, the legal system has been front-page news. No less important is the rule of law in international trade matters. The Trump campaign and its allies have approached the courts to […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: At the end of 2020, rather than looking back I’d like to look forward. Anyone care to join me? We can anticipate some major changes in government and the economy. The Biden-Harris administration takes over in exactly one […]
In an interview with Steel Market Update on Thursday, Philip Bell, president of the Steel Manufacturers Association in Washington, shared his thoughts on what the change of presidential administration means for the steel industry and SMA. Following is an edited transcript: SMU: Will the change in administration next year change SMA’s mission? Bell: As a […]
Expect another two months of uneasiness and confusion on the future of the economy, says Armada Corporate Intelligence Managing Director and Economist Chris Kuehl. Although a recovery is under way, its sustainability will depend on consumer attitude, potential lockdowns and the speed of a vaccine. In a FABTECH webinar this week, The New Global Normal: […]
Kevin Dempsey, Interim President and Chief Executive Officer of the American Iron and Steel Institute, is confident the industry trade association will be able to work productively with the incoming Biden administration in pursuit of the steel industry’s goals. “Obviously there will be a change in personality and personnel in key positions, but at the […]
NLMK USA has reached a settlement with the U.S. government regarding its challenge to the denial of Section 232 exclusions on steel slab imports. NLMK USA filed a lawsuit in the U.S. Court of International Trade in February 2020, covering 86 requests for slab exclusions submitted by the company in 2018. NLMK USA argued that […]
Trade attorney and Steel Market Update contributor Lewis Leibowitz offers the following update on events in Washington: The steel tariffs were in the news recently with the announcement of a settlement of a lawsuit brought to challenge denials of exclusion requests. This is the third case, by my unofficial count, that has been settled in […]
On Wednesday, Steel Market Update reached out to Cleveland-Cliffs Chairman, President & CEO Lourenco Goncalves to get his thoughts on the market as the U.S. is about to change leadership and Cliffs is about to complete their acquisition of ArcelorMittal USA operations (except for Calvert and Dofasco in Canada). SMU: Have you congratulated President-elect Biden? […]
My “final thoughts” provide me an opportunity to give my opinions on a wide range of topics. Some are directly steel related and some are not. The question we are all asking ourselves today is what will a Biden administration mean for business? Here are some thoughts I picked up from my reading over the […]
Mexico has agreed to strictly monitor exports of grain-oriented electrical steel in lieu of trade restrictions under Section 232 of the Trade Expansion Act of 1962. A Nov. 5 statement from the U.S. Trade Representative said, “In light of these measures, imports from Mexico will not be subject to any action to adjust imports of […]
Mexican steelmaker Ternium’s operating rates are approaching full capacity after strong improvement in shipments and demand in the third quarter. Total steel shipments rose 16 percent from the second quarter to 2.8 million tons. Higher finished steel shipments partially offset lower slab shipments to third parties. Pricing recovered significantly from the trough in the second […]