Tag: tariffs

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.

Some domestic plate market sources expect spot price rises through the end of the year due to prolonged supply constraints.

CSPA says the global challenge of steel overcapacity is no longer simply a trade issue as it looks to the current USMCA review.

The Office of the US Trade Representative has finalized a 25% Section 301 tariff on all goods imported from Brazil. Importantly for the US steel industry, pig iron has received an exemption from the tariff.

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.

SMU’s July 10 Flat-Rolled Steel Survey results paint a picture of a steel market being squeezed from every direction. Tariffs are holding prices up and giving mills a clear advantage, while manufacturers and traders say the policy is pushing their costs higher.

Testimony at last week’s Section 301 hearing put Brazilian pig iron in the spotlight. Domestic steelmakers and Brazilian suppliers warned that proposed forced labor tariffs would hit a critical US input for which there is no domestic substitute.

The Commerce Department has opened a new Section 232 national security investigation of anthracite and metallurgical coal imports. The department is seeking detailed input from the industry on supply risks, import dependence, and potential national security impacts.

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.

The Mexican government is pushing to have steel and auto tariffs removed in its next round of USMCA negotiations with the US, according to a report in El Pais.

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.

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.

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.

Barry Zekelman, executive chairman and CEO of Zekelman Industries, will be the featured guest on our next Community Chat on Wednesday, July 15, at 11 am ET.

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

We’ve gotten so used to the slow, steady increases by now that $5/ton feels like the new flat. And flat, after so many consecutive weeks of gains, feels like a decrease.

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.

Wells Fargo's Timna Tanners thinks the steel price rally will be falling off as we get further into the second half.

As all these initiatives unfold, one is left with the feeling that disruption of the global order is their primary purpose. As the old order is destroyed, it is time to think carefully about what will take its place.

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.

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.

SMA's Philip K. Bell writes about the upcoming USMCA joint review.

As the US enters negotiations and possible annual reviews of the USMCA, policymakers should preserve the S232 tariffs, which have clearly been necessary to protect the US steel industry.

Cold-rolled (CR) coil prices ticked up in the US this week, as offshore prices mostly trended lower.

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

SMU’s average price for domestic HR was $1,130 per short ton (st) this week, $15/st higher week over week (w/w). In offshore markets last week, prices were largely down, following a trend seen since late April.

SMU’s Steel Demand Index ticked back up from late May, remaining in elevated territory, according to mid-June indicators.