Steel Products
U.S./China Talks Unproductive
Written by Sandy Williams
July 20, 2017
Trade talks with China this week ended in a stalemate after the U.S. pressed for “more fair” trade terms. The discussions were described as “a frank exchange,” but little if any agreement was reached on bilateral trade and economic issues, according to a senior U.S. official. A press conference following the meeting was canceled and no joint statement was issued.
Commerce Secretary Wilbur Ross and Treasury Secretary Steven Mnuchin said, “China acknowledged our shared objective to reduce the trade deficit, which both sides will work cooperatively to achieve.”
U.S. officials pressured China to make substantial cuts to steel capacity and reduce its trade surplus, according to a Washington Post source.
{loadposition reserved_message}
The U.S. says the $347 billion trade deficit with China is not a result of market forces but of distorted trade practices. On Wednesday, President Trump told a reporter that tariffs on steel “could happen.” The White House has scheduled a rally Tuesday in the heart of steel country in Youngstown, Ohio, where it is speculated that the president will announce steel tariffs as a result of the Section 232 national security investigation.
The two sides appeared to make some progress on expansion of investment and trade in services. The Chinese embassy in Washington called it “significant progress” and said, “The two sides will expand areas of cooperation in services and increase trade in services; expand mutual investment; and create a more open, equitable, transparent and convenient investment environment.”

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

Atlas Tube debuts ‘HSS Connections Hub’
Atlas Tube, part of Zekelman Industries, has introduced an engineering resource aimed at simplifying Hollow Structural Sections (HSS) connection design for structural engineers and fabricators.

Nucor keeps HRC price unchanged
Nucor paused its weekly hot-rolled (HR) coil price this week, keeping it flat for the first time since Jan. 21. This comes after a nine-week rally that saw the company increase prices by double-digits for eight of those weeks.

Nucor increases plate prices by $40/ton
Nucor aims to increase prices for steel plate by $40 per short ton (st) with the opening of its May order book. The Charlotte, N.C.-based steelmaker said the increase was effective with new orders received on Friday, March 28, in a letter to customers dated the same day. The company said the price hike applied […]

US CRC price gains ground over imports
US cold-rolled (CR) coil prices increased again this week, while offshore prices declined.

SMU Steel Demand Index momentum slows
Steel Market Update is pleased to share this Premium content with Executive members. Contact info@steelmarketupdate.com for information on how to upgrade to a Premium-level subscription. Growth in SMU’s Steel Demand Index eased in March after reaching a four-year high in late February. Despite a moderate gain, the index remains in expansion territory. The Steel Demand […]