Tag: tariffs

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.

SMU’s June 12 Flat-Rolled Steel Buyers’ Survey shows a divided steel community on the effects of President Trump’s tariff policies, emerging but uneven signs of reshoring, and near-universal cost pressures tied to the Iran conflict.

SMU and AMU are pleased to announce that Wells Fargo Managing Director Timna Tanners will be joining us for a Community Chat webinar on Wednesday, June 24, at 11 am ET.

The United States has repeatedly called for stronger action to protect North American manufacturing. Canadian steel agrees. We are ready to do the work necessary. Now Washington must remove the tariffs that stand in the way.

The Office of the US Trade Representative has proposed a Section 301 tariff carve-out for direct-reduced iron (DRI) and hot-briquetted iron (HBI) from Brazil while planning higher tariffs for other major suppliers.

The price gap between US hot-rolled coil (HR) and landed offshore product continues to narrow, as stateside prices are now, on average, carrying a premium over imports. Domestic tags are still outpacing imported hot band as pricing dynamics diverge.

The next few months are poised to be momentous for US trade and tariff policy. Of note, the United States, Mexico, and Canada are beginning the six-year review of the US-Canada-Mexico Agreement (USMCA).

Canada plans to extend tariffs on certain steel and aluminum products for one year, Minister of Finance and National Revenue François-Philippe Champagne announced.

The price gap between US hot-rolled coil (HR) and landed offshore product continues to narrow toward parity.

Steel market chatter this week: Buyers predict prices to continue rising from here, report steady to improving demand, and most see tariffs as unhelpful.

Catherine Cobden, President and CEO of the Canadian Steel Producers Association (CSPA) called the past year’s 50% tariff imposed on Canada’s steel exports to the US ‘severe and unsustainable.’ 

The forced-labor and Brazil 301 actions are aimed more at finished goods supply chains, not raw metals.

AISI's Kevin Dempsey argues USMCA needs stronger rules of origin to strengthen manufacturing.

The official beginning of the USMCA review is less than a month away. But negotiations have already started, and steel tariffs could hang in the balance.  

President Donald Trump issued a June 1 proclamation modifying Section 232 tariffs on steel, aluminum, and copper. He pointed to new Commerce Department recommendations and “recent circumstances” affecting US users of industrial and agricultural equipment.

Stronger for longer sentiment remains in the house when it comes to flat-rolled steel prices, according to SMU’s latest steel market survey.

If an industry suffers from high labor and energy costs, inefficient facilities, or lower productivity, tariffs do not solve those problems. They only mask them, transferring costs from inefficient producers to consumers.

Steel imports could become even more prohibitive, facing even higher tariffs, pending the outcome of the Trump administration’s Section 301 investigation.

US trade policy is working. Domestic steel production is up, steel imports are down, and members of the Steel Manufacturers Association are leading record investment in safe, modern, efficient steelmaking capacity. It is important that the USMCA review process continues to support these achievements.

The Office of the US Trade Representative (USTR) has announced that the United States and Mexico will be having a series of bilateral negotiating rounds related to the joint review of the US Mexico Canada Agreement (USMCA).

Through a tariff carve-out, Tata Steel UK is able to send steel products melted in the Netherlands to the US at the UK’s reduced 25% Section 232 rate.

Two Ontario-based steel importers and their president have agreed to pay $19 million to settle US allegations that they avoided customs duties on flat-rolled steel by falsely declaring its origin, the Department of Justice said.