US HRC Prices Move Nearly Even With Imports Again
US hot-rolled coil (HRC) and offshore product are nearing parity again after domestic prices moved higher this week and imports declined again.
Tag: Section 232
Leibowitz: WTO Reform—Can It Happen?
Last week the World Trade Organization (WTO) held its periodic retreat for members to discuss the future of the organization.
US HRC Prices Remain Well Below Landed Price for Imports
US hot-rolled coil (HRC) prices were down again vs. offshore hot band this week. Domestic HRC lost more ground relative to imported product with US tags sinking at a faster rate than those overseas.
Biden to Meet EU Officials in Washington to Discuss Steel
US President Joe Biden is set to meet European Commission President Ursula von der Leyen and European Council President Charles Michel on Oct. 20 in Washington ahead of a deadline for an agreement on steel, according to a report in Reuters.
Deputy USTR Hits Out at 'Surge' of Mexican Steel Imports
Deputy United States Trade Representative (USTR) Jayme White met on Wednesday with Mexico’s Under Secretary of Economy for Foreign Trade Alejandro Encinas, and discussed issues regarding the “surge” into the US of Mexican steel and aluminum imports.
US Hot Band Now Even Cheaper Than Imported HRC
US hot-rolled coil (HRC) prices fell further relative to imported product this week. Domestic hot band remains cheaper than offshore HRC as US tags continue to sink at a sharper rate than those overseas.
Imported HRC Tags Climbing vs. US Product
US hot-rolled coil (HRC) continues to lose ground against imported hot band. Domestic product remains a better deal than offshore HRC as US tags sink further, according to SMU’s latest foreign vs. domestic price analysis.
US HRC Now a Better Bargain Than Imports
US hot-rolled coil (HRC) is now a better deal than imported hot band, something we haven't seen since early February, according to SMU’s latest foreign vs. domestic price analysis.
Senator Says U.S. Steel Must Not Be Acquired by Foreign Firm
US Senator JD Vance (R., Ohio) said U.S. Steel must not be bought by a foreign bidder, according to an op-ed he published on Sept. 5 in the Washington Post.
Domestic HRC Is Now Cheaper Than Imports
Domestic hot-rolled coil (HRC) is now cheaper than imported hot band as US tags have fallen further and at a faster clip than offshore product, according to SMU’s latest foreign vs. domestic price analysis.
Final Thoughts
I learned a lot at Steel Summit this year. More than I can do justice to in one column. Below are four things that have stayed with me after the conference closed on Wednesday afternoon. Another, as I highlighted earlier this week, was electricity – who gets it, and which energy sources we use. 1. […]
Domestic and Imported HRC Prices Reach Parity
Domestic and imported hot-rolled coil (HRC) prices are nearly parallel as US tags continue to erode at a faster clip than offshore prices, according to SMU’s latest foreign vs. domestic price analysis.
CRU Aluminum: LME Weakens on Increased Chinese Production
The LME aluminum 3-month price is unchanged on the morning of August 18 and was last seen trading at $2,144 /t. A rally to an intraday high of $2,186 /t on the 17th proved again to be short-lived as almost all gains were erased by the close. This shows how strong the downward trend that […]
USTR Applauds WTO Report on Section 232 Tariffs
The office of the US Trade Representative (USTR) endorsed the World Trade Organization’s (WTO) panel report regarding the Section 232 duties against China on steel and aluminum. The report recognized the duties as “security measures,” rejecting China’s arguments against them.
US HRC Prices and Imports Are Nearly Even
The spread US hot-rolled coil (HRC) prices had held over offshore product for much of the year has almost evaporated, according to SMU’s latest foreign vs. domestic price analysis.
Leibowitz: The Steel Mess—Decarbonization, Overcapacity, and Stalemate
Steel trade continues to cause dissension among our friends, perhaps more so than our adversaries. The conflict between the US and EU is the most talked about, but it impacts others including Japan, Brazil and India.
CRU Aluminum: The LME Rollercoaster
CRU research manager Stephen Williamson shares his views of this week's aluminum market.
US HRC Prices Near Parity With Imports, a Stark Shift from H1'23
The spread between US and offshore hot-rolled coil (HRC) prices continues to narrow as domestic tags have declined further, according to SMU’s latest foreign vs. domestic price analysis.
HRC Imports Losing Edge Over US Prices
The spread between US and offshore hot-rolled coil (HRC) prices has narrowed to its lowest level since mid-February, when domestic prices were still trending upwards, according to SMU’s latest foreign vs. domestic price analysis.
Leibowitz: No Deal in Sight on US/EU Steel and Aluminum Trade
In 2021, the US and EU called a timeout on their disputes about the US “national security” steel and aluminum tariffs and the resulting retaliatory measures by the EU. The agreement back then rescinded the Section 232 tariffs and replaced them with a “tariff-rate quota” that allowed a measure of tariff-free trade. In exchange, the […]
Leibowitz: No Deal in Sight on US/EU Steel and Aluminum Trade
In 2021, the US and EU called a timeout on their disputes about the US “national security” steel and aluminum tariffs and the resulting retaliatory measures by the EU.
CRU Aluminum: Measuring the Effects of Section 232
With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of […]
CRU Aluminum: Measuring the Effects of Section 232
With the latest announcement between India and the US easing Section 232 duties, it is clear the duties, initiated in 2018, are under review. Now that five years have passed, a good amount of data has been gathered to analyze the effects of the policy. Judging from each scheduled review of the economic effects of the policy resulting in its continuation, it is clear that it has had a positive impact on parts of the industry. However, there are also a handful of knock-on effects that have become apparent.
USTR Meets with EU Official on Steel, Aluminum Deal
US Trade Representative (USTR) Katherine Tai and a lead European Commission official met on Thursday in Brussels to discuss the Global Arrangement on Sustainable Steel and Aluminum, according to a press release from the USTR. In her meeting with EC EVP Valdis Dombrovskis, “Ambassador Tai stressed the importance of both sides generating ambitious proposals in […]
USTR Meets with EU Official on Steel, Aluminum Deal
US Trade Representative (USTR) Katherine Tai and a lead European Commission official met on Thursday in Brussels to discuss the Global Arrangement on Sustainable Steel and Aluminum, according to a press release from the USTR.
US Premium Over Foreign HRC Loses Ground
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU's latest foreign vs. domestic price analysis.
Foreign HRC Losing Price Advantage Over US Product
The US hot-rolled coil (HRC) premium over offshore product declined this past week, as prices abroad moved up while domestic tags declined, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside declined $20 per ton vs. the prior week, slipping to their lowest level since mid-February. Domestic prices are now down $290 […]
USTR, Top EU Trade Official to Meet on Steel, Aluminum Agreement
US Trade Representative Katherine Tai will travel to Brussels next week to continue discussions on establishing a “Global Arrangement on Sustainable Steel and Aluminum” with the European Union. Ambassador Tai will be in Belgium on July 20-21 to speak with European Commission EVP Valdis Dombrovskis. This is their second meeting in July, the USTR press […]
US Premium Over Foreign HRC Remains Unchanged
The US hot-rolled coil (HRC) premium over offshore product has changed little over the past few weeks, as both prices abroad and stateside have inched up in tandem recently, according to SMU’s latest foreign vs. domestic price analysis. HRC tags stateside are still down $280 per ton since peaking at $1,160 per ton back in […]
USTR Talks Steel Imports With Mexican Minister
US Trade Representative Katherine Tai met on Thursday in Cancun, Mexico, with Mexico’s Secretary of Economy, Raquel Buenrostro, where the two discussed confronting steel imports, among other issues. In a press release, the USTR said she spoke with Secretary Buenrostro regarding “the importance of addressing the recent surge of imports of steel and aluminum products, and […]