Tag: Imports

According to recently finalized US Commerce Department data, US steel imports tumbled to a near five-year low in September

The price gap between stateside hot band and landed offshore product continues to narrow toward parity, now at its lowest level in five months.

We can be grateful for some things. One is the regional agreement between the US, Canada, and Mexico that is currently undergoing review. A decision is expected by July 2026 on whether to extend the agreement, which is set to expire in 2036, for another 16 years (to 2052). Three days of hearings just concluded with comments of five minutes’ duration from more than 50 witnesses.

Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.

The price gap between stateside hot band and landed offshore product has inched closer to parity, now at its lowest level since the summer.

The price gap between stateside hot band and landed offshore product tightened further this week, as the average price for domestic hot-rolled was $10/st higher w/w.

US steel imports declined considerably in September and October, with trade falling to reduced levels not seen in nearly five years.

The price gap between stateside hot band and landed offshore product shrank week over week (w/w).

Sheet prices are in the middle of one of their most sustained rallies since the first quarter, and this time in the absence of any tariff or trade policy shocks.

The whole world waits for the Supreme Court to rule on the validity of President Trump’s International Emergency Economic Powers Act (IEEPA) tariffs. Meanwhile, the ground is shifting. Just this past week, the president changed the direction of tariff policy. He belatedly concluded that taxes on imports of products that we don’t make in the United States are inflationary

The price gap between stateside hot band and landed offshore product has marginally widened week over week.

The gap between US hot band prices and imports narrowed slightly. But with the 50% Section 232 tariffs, most imports remain more expensive than domestic material.

In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.

What's on steel buyers' minds this week? We asked about market prices, demand, inventories, tariffs, imports, and other evolving market trends. Read on for buyers' comments in their own words...

SMU’s average price for domestic HR coil moved $5 higher this week, while price movements in offshore markets varied. This dynamic...

US domestic sheet prices have remained rangebound in recent weeks as supply tightness met weak demand. Demand for steel produced in the US increased among some Mexican industrial buyers....

SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.

Any steel imports into the EU that exceed the new, lower quota level would be subject to a 50% tariff, which represents a major increase from the EU’s current 25% out-of-quota tariff. This move would largely align the EU’s steel tariff rate with Canada and the United States.

SMU’s average price for domestic hot-rolled (HR) coil was $795 per short ton (st) this week, sideways week on week (w/w). The move was different in offshore markets last week, as prices eased marginally.

SMU’s latest survey results indicate that steel market participants think sheet prices are at or near a bottom. But most also think there is limited upside once they inflect higher.

The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.

How can the U.S. government block U.S. Steel’s Granite City rolling mill closure without harming other American steelmakers? Reducing imports should be the first step. Foreign producers continue to aggressively target the U.S. market, especially now as they find themselves displaced by Chinese exports.

Domestic mills praised the US International Trade Commission’s (ITC's) final determination that imports of corrosion-resistant (CORE) steel from 10 countries pose a threat to them.

SMU’s average price for domestic hot-rolled (HR) coil held at $785 per short ton (st) this week, unchanged week on week (w/w). A similar dynamic was seen in offshore markets last week as well.

Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in offshore markets as well.

With only a modest decline in US prices, HR imports, on a landed basis, remain much more expensive than domestic hot band.

Cold-rolled (CR) coil prices ticked lower in the US this week, while prices in offshore markets mostly diverged and ticked higher.

Apparent supply totaled 8.88 million short tons (st) in July, down 38,000 st from June and 6% higher than the same month last year

Domestic hot-rolled (HR) coil prices ticked down this week after holding flat since mid-August. Offshore prices largely all moved higher week over week (w/w), widening the margin between stateside and foreign product.

Mexico is considering imposing steep tariffs on imports of steel, automobiles, and over 1,400 other products. Its target? Countries with which it does not have free trade agreements, mainly China, India, Thailand, and other South Asian nations.