Steel Mills
ArcelorMittal Mexico Unswayed by Trade Threats
Written by Tim Triplett
March 6, 2018
The threats of Section 232 tariffs and the possible withdrawal of the United States from NAFTA have not swayed ArcelorMittal from its commitment to invest $1 billion in its Mexican operations.
In a statement reported on Friday, a spokesman for the integrated steelmaker said the company has no intention of changing its plans for Mexico, which include construction of a new hot strip mill at its Lazaro Cardenas unit.
Only 20 percent of the steel ArcelorMittal produces in Mexico is exported to the United States and other markets, while 80 percent is consumed locally, the company said. So, the bulk of the company’s output would be unaffected by President Trump’s proposed tariff of 25 percent on U.S. steel imports.
ArcelorMittal Mexico’s annual production will total 5.3 million metric tons when the investment program is completed over the next three years, the company said, including 2.5 million metric tons of flat rolled steel, as well as long products and slabs.
Tim Triplett
Read more from Tim TriplettLatest in Steel Mills
Primetals to replace two EAFs at US mill
Primetals Technologies will be replacing two electric-arc furnaces at a steel mill in the US with one more energy-efficient furnace.
Nippon’s Mori meets with Pa. Gov. Shapiro: Report
Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.
Nippon won’t import slabs to US if U.S. Steel deal goes through
Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.
AISI: Raw steel production falls to 5-week low
Domestic raw steel mill production slipped to a five-week low last week, according to the latest figures released by the American Iron and Steel Institute (AISI). Weekly production is now at the third-lowest level recorded this year.
Nucor maintains HR price at $750/ton
Nucor’s weekly consumer spot price (CSP) for hot-rolled (HR) coil was unchanged week on week (w/w) at $750 per short ton (st) on Monday, Nov. 18.