US CRC price gains little ground over imports
US cold-rolled (CR) coil prices moved higher this week, a trend not evenly shared by offshore prices.
Tag: Section 232
US HR and offshore prices hold steady
Domestic hot-rolled (HR) coil prices were flat this week, a trend mirrored in offshore markets.
Leibowitz: Trade — bedrock economic relationships are circling the drain
Which is more important: producers or consumers? New (and arbitrary) steel and aluminum tariffs took effect last Wednesday. Based on the Section 232 trade restrictions initially imposed in 2018 – and kept by the Biden administration – they abrogate agreements between the US and Canada, Mexico, the UK, the EU, Argentina, Brazil, and Australia. They […]
Section 232 curbs US CRC price gains over imports
Fully restored Section 232 tariffs on steel on March 12 cut the widening premium US prices had over most imports on a landed basis.
The Week That Was: March 10-14
A quick way to catch up on what you might have missed.
Wittbecker on Aluminum: Where are Midwest premiums headed?
Let's take a look at different tariff scenarios.
Gap between US HR and offshore prices narrows on S232 reinstatement
Domestic hot-rolled (HR) coil prices moved higher this week, still largely outpacing increases seen in offshore markets. But the reinstatement of undiluted Section 232 tariffs on steel on March 12 cut the ballooning premium stateside prices had gained on most imports on a landed basis. The premium stateside tags had over prices abroad stood at […]
US importers face stricter rules under revamped S232 tariffs
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Trump holds off on 50% Canadian steel, aluminum tariffs after day of threats and reversals
Section 232 tariffs are expected to go into effect March 12.
Trade groups push for steel tariffs, no exclusions
The penalties are expected to be reinstated on Wednesday, March 12.
Domestic CRC price gains still outpacing imports
US cold-rolled (CR) coil prices continued to rise this week, well ahead of offshore prices. The price spread between stateside-produced CR and imports reached a 14-month high in the week ended March 7. Steady price gains in overseas markets continue to be overshadowed by increases in domestic prices. The result? The US premium over imports […]
CRU: Will US tariff policy be transactional or transformational?
The Trump 1.0 tariffs appeared to have little positive effect on the US manufacturing, partly because they hurt export competitiveness.
US HR prices jump higher above imported tags
Domestic hot-rolled (HR) coil prices moved higher this week, widely outpacing increases seen in offshore markets.
Trump vows tariffs and reciprocal levies in speech to Congress
April 2 is when reciprocal tariffs are expected to kick in.
US HR prices rising faster than offshore tags
Hot-rolled (HR) coil prices continued to rally in the US this week, quickly outpacing price gains seen abroad. The result: US hot band prices have grown widely more expensive than imports on a landed basis. The premium US HR tags carry over HR prices abroad now stands at a 14-month high. SMU’s average domestic HR […]
CRU: Trump orders Section 232 probe into copper
President Trump has directed Commerce Secretary Howard Lutnick to investigate copper imports into the US under Section 232 of the Trade Expansion Act of 1962 on national security grounds.
AWMI Panel: Aluminum demand, production under pressure with tariffs on horizon
It won't be so easy to restart idled aluminum production in the US, AMU says.
Final Thoughts
The US steel market has whipsawed upward on the prospect of expanded Section 232 tariffs of 25% being applied to imported steel - including downstream goods - on March 12. It seems pretty clear that domestic steel mills have the ear of the Trump administration when it comes to Section 232. The result? The much-anticipated Trump bump has finally arrived - and then some.
Price: Should billions in Section 232 revenue go to foreign manufacturers or to the American people?
Do we want the benefits of the Section 232 tariffs to flow to the bottom lines of foreign steel and aluminum producers or to the US government and, ultimately, domestic manufacturers and their workers? In our view, the answer is simple. Section 232 exceptions do nothing more than lead to underserved profits for foreign manufacturers who are harming the US industrial base. That revenue could be used to pursue the Trump administration’s other policy priorities - such as deficit reduction or expanded tax cuts.
CRU: US smelter restarts more likely due to Trump tariffs but remain limited
US primary output is at its lowest level this century
CRU: Rising protectionism impacts global steel trade
US sheet prices surge following tariff announcement
Final Thoughts
I think it’s fair to say that the last few weeks – and last week especially – have been among the most intense for any of us covering steel (or aluminum).
Wittbecker on Aluminum: New Section 232 tariff is lever to pay for power
New duties could give companies like Alcoa and Century Aluminum revenue gains that could boost production
Manufacturers brace for higher costs with tariffs in play
Automakers, construction, manufacturers raise concerns
Wittbecker on Aluminum: Canada’s options to combat US tariffs
The problem is that the situation in Washington is so fluid that no one really knows what to expect
CRU: US steel prices to jump on new Trump tariffs
US steel prices set to jump after President Trump levies new tariffs.
Final Thoughts
A lot of the changes basically entail rolling back what I’ll call, for fun, Section 232 Lite. S232 Lite resulted from watering down what I’ll call OG S232 – the one first imposed in March 2018 - with exemptions and exclusions over the years. Now, OG Section 232, is back with its across-the-board 25% tariffs against everyone.
Trump officially orders sweeping 25% tariff on steel, aluminum
The new version of Section 232 goes into effect on 12:01 am ET on March 12, according to the executive order. The latest iteration of Section 232 removed quotas, exemptions, and other carve outs that had accumulated over years.
CRU: Canada would struggle to re-direct its US steel exports
USMCA is option 1 but will cost more or not be big enough
Final Thoughts
Trump made a clarification in a speech on Monday. Previously, he had declared the word “tariff” the most beautiful word in the dictionary. No longer.