The aluminum market is facing a wave of uncertainty following the latest Section 232 tariffs, leaving many in the industry asking the same key questions – from why the Midwest Premium isn’t reacting as expected to how these tariffs will impact Canada, value-added products, and scrap flows – there’s plenty to unpack. We’ve put together […]
US cold-rolled (CR) coil prices moved higher this week, a trend not evenly shared by offshore prices.
Domestic hot-rolled (HR) coil prices were flat this week, a trend mirrored in offshore markets.
Which is more important: producers or consumers? New (and arbitrary) steel and aluminum tariffs took effect last Wednesday. Based on the Section 232 trade restrictions initially imposed in 2018 – and kept by the Biden administration – they abrogate agreements between the US and Canada, Mexico, the UK, the EU, Argentina, Brazil, and Australia. They […]
Fully restored Section 232 tariffs on steel on March 12 cut the widening premium US prices had over most imports on a landed basis.
A quick way to catch up on what you might have missed.
Let's take a look at different tariff scenarios.
Domestic hot-rolled (HR) coil prices moved higher this week, still largely outpacing increases seen in offshore markets. But the reinstatement of undiluted Section 232 tariffs on steel on March 12 cut the ballooning premium stateside prices had gained on most imports on a landed basis. The premium stateside tags had over prices abroad stood at […]
“CBP expects full compliance from the trade community for accurate reporting and payment of the additional duties. CBP will take enforcement action on non-compliance," the agency said in a March 7 bulletin.
Section 232 tariffs are expected to go into effect March 12.
The penalties are expected to be reinstated on Wednesday, March 12.
US cold-rolled (CR) coil prices continued to rise this week, well ahead of offshore prices. The price spread between stateside-produced CR and imports reached a 14-month high in the week ended March 7. Steady price gains in overseas markets continue to be overshadowed by increases in domestic prices. The result? The US premium over imports […]
The Trump 1.0 tariffs appeared to have little positive effect on the US manufacturing, partly because they hurt export competitiveness.
Domestic hot-rolled (HR) coil prices moved higher this week, widely outpacing increases seen in offshore markets.
April 2 is when reciprocal tariffs are expected to kick in.
Hot-rolled (HR) coil prices continued to rally in the US this week, quickly outpacing price gains seen abroad. The result: US hot band prices have grown widely more expensive than imports on a landed basis. The premium US HR tags carry over HR prices abroad now stands at a 14-month high. SMU’s average domestic HR […]
President Trump has directed Commerce Secretary Howard Lutnick to investigate copper imports into the US under Section 232 of the Trade Expansion Act of 1962 on national security grounds.
It won't be so easy to restart idled aluminum production in the US, AMU says.
The US steel market has whipsawed upward on the prospect of expanded Section 232 tariffs of 25% being applied to imported steel - including downstream goods - on March 12. It seems pretty clear that domestic steel mills have the ear of the Trump administration when it comes to Section 232. The result? The much-anticipated Trump bump has finally arrived - and then some.
Do we want the benefits of the Section 232 tariffs to flow to the bottom lines of foreign steel and aluminum producers or to the US government and, ultimately, domestic manufacturers and their workers? In our view, the answer is simple. Section 232 exceptions do nothing more than lead to underserved profits for foreign manufacturers who are harming the US industrial base. That revenue could be used to pursue the Trump administration’s other policy priorities - such as deficit reduction or expanded tax cuts.
US primary output is at its lowest level this century
US sheet prices surge following tariff announcement
I think it’s fair to say that the last few weeks – and last week especially – have been among the most intense for any of us covering steel (or aluminum).
New duties could give companies like Alcoa and Century Aluminum revenue gains that could boost production
Automakers, construction, manufacturers raise concerns
The problem is that the situation in Washington is so fluid that no one really knows what to expect
US steel prices set to jump after President Trump levies new tariffs.
A lot of the changes basically entail rolling back what I’ll call, for fun, Section 232 Lite. S232 Lite resulted from watering down what I’ll call OG S232 – the one first imposed in March 2018 - with exemptions and exclusions over the years. Now, OG Section 232, is back with its across-the-board 25% tariffs against everyone.
The new version of Section 232 goes into effect on 12:01 am ET on March 12, according to the executive order. The latest iteration of Section 232 removed quotas, exemptions, and other carve outs that had accumulated over years.
USMCA is option 1 but will cost more or not be big enough