The Mexican government aims to transform Manzanillo into the largest seaport in Latin America, capable of processing some 10 million TEU (20-foot equivalent units) per year by 2030. It is already Mexico's largest port and the third largest in Latin America, handling nearly 4 million 20-foot containers in 2024.
Cliffs came tantalizing close to buying U.S. Steel in 2023. There were rumors in 2024 that Cliffs might buy NLMK USA before it ultimately purchased Stelco for $2.5 billion in November of last year. Who would have thought that asset sales would have been the focal point of discussion just six months later?
US steel imports rebounded from February to March, rising to the second-highest monthly rate witnessed in the past ten months, according to final data recently released by the US Commerce Department. April license data shows that gain has likely been erased, with trade falling to the lowest rate of the year and several product categories hitting multi-year lows.
The US and UK governments have announced a trade deal in which an “alternative” to the Section 232 steel and aluminum tariffs will be provided.
Maximo Vedoya was awarded in recognition of Ternium’s expansion project in Pesquería, Mexico, and Ternium’s efforts to decarbonize steelmaking.
Mercedes-Benz is planning to move production of a “core segment vehicle” to Tuscaloosa, Ala., by 2027.
AMU’s Greg Wittbecker, an aluminum industry veteran, will address not only US tariffs but also evolving trade routes - and how supply chains are (or aren’t) adjusting. He’ll also touch on broader industrial impacts, from auto layoffs to the potential ripple effect of maritime tax policies.
The tariffs are intended to produce more investment and jobs in US manufacturing. But first, there will be a cosmic change, potentially wiping out millions of jobs in the short run. While administration officials will no doubt cringe at the comparison, it reminds me of the effort to undercut fossil fuels production to address climate change. Led by Democrats, the effort was to destroy fossil fuels so that renewable energy sources would have more space to grow. The result: inflation and electoral defeat in 2024.
Canada’s Algoma Steel swung to a loss in the first quarter amid "market challenges," and the company now expects first steel production from its first EAF in the second quarter.
But profits slipped vs. last year.
United Airlines raised eyebrows earlier this month when it provided two forecasts for 2025 – one assuming a relatively stable economy and another assuming a recession. The reason? Uncertainty around the impact of President Trump’s policy shocks on the broader economy. And it sometimes feels like we’re seeing a battle between those two narratives (stable vs recession) play out within in the pages of this newsletter.
Container shipping lines have sharply increased blank sailings on Transpacific routes in response to escalating trade tensions between the US and China.
Meanwhile, an increasing number think it's too early to say whether the penalties are going to bring more manufacturing to the US.
Operational results painted a picture of a company that produced more aluminum but shipped less of it as a result of tariffs and timing mismatches.
Should foreign investment be allowed to reshape the American steel Industry? Not to be lost in the recent on-again-off-again tariff frenzy, Nippon Steel’s proposed takeover of U.S. Steel has also found itself in President Trump’s crosshairs when it comes to trade and industrial policy. Nippon Steel initially announced its nearly $15-billion bid for U.S. Steel […]
The constant flow of information we all receive can be a bit overwhelming, but SMU is here to help with a weekly snapshot.
The volume of steel exported from the US declined in February, reversing January’s surge, according to the latest US Department of Commerce figures. This comes just two months after export levels had fallen to a two-year low.
Recall that shipments also saw a sharp decline in January.
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
SMU polled steel buyers on an array of topics this week, ranging from market prices, demand, and inventories to imports and evolving market events. We are sharing some of the comments we collected.
US steel imports returned to normal levels in February after climbing to a near three-year high in January, according to finalized trade data published by the US Commerce Department. March license data suggests imports have remained within this normal range.
The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.
Supply chains are working through what the tariffs mean for them
The US Commerce Department on Friday released preliminary anti-dumping margins in a trade case targeted imports of coated flat-rolled steel from 10 countries. Certain countries and mills were hammered while others were largely spared. Brazilian steelmaker CSN, for example, received a preliminary rate of 137.76%. Some Turkish mills – including Boreclik and ArcelorMittal Celik Ticaret – received no dumping margin at all.
Latest tariffs could lead to US metallurgical coal exporters (many already high-cost swing producers) being priced out of the market.
The Commerce Department has made a preliminary determination that ‘critical circumstances’ exist for certain imports of corrosion-resistant (CORE) flat-rolled steel from the United Arab Emirates (UAE). Commerce decided that critical circumstances did not apply to CORE from South Africa. The department also found that critical circumstances did not apply to CORE from UAE producers Al-Ghurair Iron & Steel LLC and United Iron & Steel Company LLC.
Announcing tariffs is easy. Implementing them at the border? That’s a whole different ball game.
President Trump’s promised “Liberation Day” has arrived, with a 10% minimum tariff on imports. But there are some very important exceptions: The United States’ USMCA partners, Canada and Mexico, are excluded from the reciprocal tariffs for now. In addition, steel, aluminum, as well as autos and auto parts are excluded from the reciprocal tariffs. That’s […]
The constant flow of information we all receive can be a little overwhelming, but SMU is here to help with a snapshot of the week.
President Trump said on Monday there may be exceptions for some countries on reciprocal tariffs.