Senate bill looks to reimpose Section 232 tariffs on Mexico
US senators have introduced the "Stop Mexico’s Steel Surge Act," which seeks to reimpose 25% Section 232 tariffs on Mexican steel imports.
Tag: Canada
January steel exports rebound from previous month’s low
US steel exports jumped to 770,649 short tons (st) in January, rising 25% from the 12-month low recorded one month prior.
Leibowitz on trade: Electric vehicles—the Mexican connection
In 2023, Mexico emerged as the largest trading partner with the United States—larger than Canada, and even China. The growth in trade with Mexico has been truly historic—Mexico has never captured the title of the largest exporter to the US. At $475 billion for the year, the value of US imports from Mexico exceeded that […]
Rig count declines in US and in Canada
US and Canadian rig counts both eased this week, according to the latest release from Baker Hughes on Mar. 8. Recall that US rigs had reached a 5-month high last week.
USW reaches tentative pact with CN Rail
United Steelworkers (USW) union members in Canada have reached a tentative labor agreement with CN Rail.
Leibowitz: A deep dive into the ITC determinations on tin mill product duties
The failure of the trade remedy actions against imported steel tin mill products (TMPs) continues to resonate. Cleveland-Cliffs and the United Steel Workers Union (USW) lost the case at the International Trade Commission (ITC) last month. A few days ago, the ITC released its final report explaining the decision against imposing antidumping and countervailing duties […]
Active US rig count rises to 5-month high, Canada level
The number of active rigs in the US inched up to the highest level seen since September, according to the latest data from Baker Hughes.
SMA: US steelmakers deserve credit for leading decarbonization charge
When it comes to finding ways to reduce emissions in steel manufacturing, we are in the all-of-the-above camp.
Final thoughts
What are some “Black Swans” to watch out for? With the war in Ukraine entering its third year, your mind might understandably move to conflicts overseas. Here is one closer to home to consider: US trade relations with Mexico taking a turn for the worse. I mention that because the Office of the United States Trade Representative (USTR) dropped a (virtual) bombshell earlier this month.
Metalformers' outlook brightens in February: PMA
Metalformers expressed increased optimism about business activity this month, according to the February 2024 Precision Metalforming Association (PMA) Business Conditions Report.
January imports rally to a seven-month high
January’s import level was even higher than an earlier license count had suggested, making it the highest month for imports since June 2023.
Final thoughts
Domestic prices have been sliding since the beginning of the year, and I don’t see any obvious reasons why the slide might stop this week. But let’s put the timing of a bottom aside for a minute. The question among some of you seems to be whether we’ll see another price spike, or at least a “dead-cat bounce,” before the typical summer doldrums kick in.
US rig count expands, Canada slips
Rig counts in the US and Canada were mixed again for the week ended Feb. 23. The US saw totals move higher, while Canadian rig figures slipped week on week (w/w), Baker Hughes’ latest data shows. US rigs The number of active rotary rigs in the US expanded by five to 626 from the previous […]
CRU: Slow unfurling for raw material demand expected
In the period between mid-February and mid-March, CRU forecasts global demand for steelmaking raw materials to change little from the previous month,but buying activity will improve towards the end of next month
Canada adds ‘melt-and-pour’ requirement for steel imports
Canada will soon require steel imports to report “country of melt and pour” information.
North American auto assemblies recover in January
North American auto assemblies recovered in January after a usual seasonal slowdown at year-end, according to LMC Automotive data. The result was driven by improved production across the region vs. December’s output.
US light-vehicle sales fall in January, still ahead y/y
US light-vehicle (LV) sales rose to an unadjusted 1.08 million units in January, up 2.8% vs. year-ago levels, the US Bureau of Economic Analysis (BEA) reported. Despite the year-on-year (y/y) boost, domestic LV sales were down 5.6% month on month (m/m). On an annualized basis, LV sales were 15 million units in January, down from […]
Leibowitz: Could change at the ITC keep Weirton tin mill open?
The International Trade Commission (ITC) voted earlier this month against imposing antidumping and countervailing duties on imports of tin mill products from four countries. When Cliffs filed trade cases on tin mill products in early 2023, the company claimed that the failure to get massive duties on imports would result in the closure of its mill in Weirton, W.Va. We don’t know the reasoning behind this decision, only that all four sitting Commissioners voted not to impose duties. We do know that Cliffs plans to close Weirton.
US rig count slips, Canada higher
Rig counts in the US and Canada were mixed again for the week ended Feb. 16. The US saw totals move down, while Canadian rig figures ticked up week on week (w/w), Baker Hughes’ latest data shows.
Reliance scoops up American Alloy Steel
Reliance has entered into an agreement to purchase Houston-based American Alloy Steel Inc. for an undisclosed sum.
Bull Moose partners with Mitsui, Nippon to sell jumbo HSS
Bull Moose Tube Co. (BMT) is now offering jumbo hollow structural sections (HSS) in the US market.
Leibowitz on trade: Consumers win one at the ITC
Last week, steel consumers prevailed in a rare victory over US petitioners in trade cases on tin mill steel products. The US International Trade Commission (ITC) voted 4—0 that Cleveland-Cliffs, the sole remaining domestic producer of tin mill products (used to make containers such as “tin cans”) was neither injured nor threatened with injury by imports of competing products from Canada, China, and Germany. Imports from South Korea were found to be “negligible,” and the investigation on Korean imports was terminated.
ArcelorMittal hints USS sale to Nippon could trigger Calvert ownership change
ArcelorMittal indicated that a sale of U.S. Steel to Nippon Steel could lead to it taking full control of AM/NS Calvert, its joint venture sheet mill in Alabama. "Typically, in such situations, when there is a selling partner, they sell it to the other partner in the joint venture, right. So I could imagine such a situation would develop,” Mittal said.
January import licenses at six-month high
Based on initial license data for January, steel imports appear to have risen to a six-month high, and flat-rolled steel imports to a seven-month high.
Russel posts solid quarter, eyes growth initiatives
Russel Metals has invested a lot in recent years, and it’s not done yet.
US rig count recovers, Canada unchanged
Rig counts in the US and Canada were mixed for the week ended Feb. 9, with US totals moving up and Canadian holding unchanged week on week (w/w), Baker Hughes’ latest data shows. US The number of active rotary rigs in the US inched back up by four to 623. Oil rigs were unchanged at […]
Imports decline for a second consecutive year in 2023
2023 was the third-lowest year for steel imports in the last decade, according to an SMU analysis of data from the US Department of Commerce.
Tampa Steel: No doom and gloom in end-users' outlooks
The recession many predicted did not materialize in 2023, leading industry experts in several key end-user markets for steel cautiously optimistic for 2024.
ITC votes not to impose duties on tin mill product imports
At the final hour, the trade case investigating unfairly traded imports of tin mill products has been terminated.
Second Trump term could mean 60% tariff on Chinese imports: Report
Former President Donald Trump discussed, if re-elected, placing a 60%-or-more tariff on all Chinese imports in an interview with Fox News on Sunday.