Tag: Trade

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.

Foreign steel is gaining traction with US buyers, according to SMU's most recent Flat-Rolled Steel Survey. Most manufacturers and service centers now report competitive pricing, and more are placing new foreign orders.

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.

The US Department of Commerce is adjusting the import duties on Korean cold-rolled and galvanized steel after two administrative reviews.

Steel and many steelmaking raw materials have been spared from additional forced labor Section 301 tariffs.

US Trade Representative (USTR) Jamieson Greer will travel to Mexico from Wednesday to Friday this week to continue bilateral discussions related to the USMCA joint review.  

Downstream consumers of steel account for many times the employment in steel production. Yet the tariff manufacturers in the federal government have paid scant attention to the needs of most manufacturers.

Steel exports eased 1% in May and remain significantly lower than trade of previous years.

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.

Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.

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.

Aluminum prices have spent the past month pricing in a calmer Middle East, while developments in the Strait of Hormuz have suggested anything but.

Cold-rolled (CR) coil prices were unchanged in the US this week, while offshore prices varied, though mostly trended up.

Wire rod imports from Algeria face new countervailing duties (CVDs) in the US.

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.

The investigation follows requests from US producers Nucor and Steel Dynamics.

Steel trade groups and unions in the US have weighed in on the USMCA review process, as the US announced it would not renew the trade pact in its current form.

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.

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.

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.

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.

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.

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

South Korea has overtaken Canada as the top foreign supplier of steel to the US market.

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.

US steel exports improved 2% from March to April to the highest monthly volume seen in 13 months. Although up, trade remains historically low

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.