The wide spread between foreign and domestic cold-rolled coil (CRC) prices remains in place despite recent price increases in Europe, according to SMU’s latest check of the market. Domestic CRC was, on average, $77 per ton more expensive than imported steel in the four regions we track as recently as early February. That premium has […]
The appeal for imports of hot-rolled coil (HRC) remains strong even as US price gains have slowed, according to SMU’s latest foreign vs. domestic price analysis. And while we haven’t seen an official mill pricing notice in nearly three weeks, domestic tags continue to inch higher towards the targeted base price of $1,200 per ton […]
Foreign cold-rolled coil’s (CRC) pricing advantage over domestic product widened this past week as US prices rose further in response to continued mill tag hikes, according to Steel Market Update’s latest foreign vs. domestic price analysis of the CRC market. The move continues to widen the gap between US and offshore cold-rolled. Longer lead times […]
The LME aluminum three-month price steadied this week despite a whirlwind of upsetting news, finding its footing near $2,300 per metric ton. That’s below the $2,500-per-ton mark we saw as 2023 opened on a more optimistic tone. The recent news from across the geopolitical and macroeconomic scene has dampened demand sentiment in the near term. […]
The appeal for imports of hot-rolled coil (HRC) continues to grow as US prices move higher in response to repeated mill tag hikes. The price advantage domestic HRC had enjoyed over offshore just last month has swung negative at an accelerated rate, according to SMU’s latest foreign vs. domestic price analysis. The most recent pricing […]
Imports of cold-rolled coil (CRC) extended their pricing advantage over domestic product as US mills continued to drive prices higher, according to Steel Market Update’s latest foreign vs. domestic price analysis of the CRC market. US mills have announced multiple rounds of price increases since the beginning of the year, widening the gap between US […]
The US International Trade Commission issued a report to Congress last week on the impact of the Section 232 import restrictions on steel and aluminum and the tariffs on imports from China under Section 301. The report catalogued significant injury to downstream industries. Namely, those that use steel or aluminum in manufacturing. The losses were […]
The US Court of Appeals for The Federal Circuit has upheld Section 232 duties on steel tube and pipe from Turkey’s Borusan Mannesmann and its American subsidiary Borusan Mannesmann Pipe US. In a March 15 ruling the court affirmed an earlier opinion by the US Court of International Trade. Borusan had appealed the original decision, […]
Imports of hot-rolled coil (HRC) are becoming more attractive as US mills continue to drive domestic prices higher. The price advantage domestic HRC had enjoyed over offshore hot band as recently as five weeks ago swung negative, mirroring dynamics seen more than a year ago, according to Steel Market Update’s latest foreign vs. domestic price […]
The LME aluminium three-month price eased lower again last week and was seen trading Friday at around $2,300 per tonne. Still below the high mark for 2023, recent news from the macroeconomic scene has dampened demand sentiment and prices accordingly. Market participants awaited Jerome Powell’s semi-annual congressional testimony, with Friday’s focus the nonfarm payrolls report. […]
The price advantage domestic cold-rolled coil (CRC) had recently enjoyed over imported steel was short-lived, as US mills continue to drive prices higher, according to Steel Market Update’s latest foreign vs. domestic price analysis of the CRC market. Repeated mill price hikes through February and into March has seen the US CRC price advantage over foreign […]
The price advantage domestic hot-rolled coil (HRC) had enjoyed over offshore hot band has evaporated as US mills drive prices higher, according to Steel Market Update’s latest foreign vs. domestic price analysis. Nucor and ArcelorMittal last week announced a target price $1,150 per ton ($57.50 per cwt) for HRC. Market contacts have told SMU that some […]
We’ve just seen the biggest week-over-week increase in hot-rolled coil prices since the frenzy following Russia’s invasion of Ukraine last year. SMU’s hot-rolled coil (HRC) price is up $140 per ton ($7 per cwt) week over week. That’s our biggest such gain since prices jumped $210 per ton in mid-March of last year at the height of […]
Mexico continues to have its problems with US relations. On March 3, former Attorney General William Barr penned a column in the Wall Street Journal about failures by Mexico to stem the drug cartels. Illegal drugs are flowing into the US over the apparently porous border. Barr recommends that the US take action reminiscent of […]
Domestic hot-rolled coil (HRC) continues to lose its price advantage over imported steel. The reason: US prices continued to move higher following a wave of domestic mill price hikes that began after Thanksgiving and reached a fever pitch in February with near weekly price increases. US HRC had held a price advantage over foreign hot […]
The Congressional Steel Caucus (CSC) called on President Biden to keep Section 232 tariffs in place and to explore additional protections as well. “We encourage the Biden administration to continue to maintain the Section 232 tariffs and quotas, ensure strong trade remedy laws that address unfair trade practices, and protect our environment from high-emission foreign steel […]
February came in with a bang and went out with one too. We saw two rounds of $50-per-ton sheet price increases early in the month. Then one of $100 per ton. And finally Cleveland-Cliffs came in near the buzzer on Monday with another $100-per-ton price hike. We think that was the last shot of the […]
The Biden administration has hit Russian pig iron as well as other steel and metal products with tariffs of up to 70%. The move was made with less fanfare than the 200% tariffs on Russian aluminum announced in a presidential proclamation last week. The tariffs were included in an annex attached to that proclamation. The […]
Sometimes it’s hard to know who your friends are. What starts offs as a simple disagreement escalates. Things can soon spin out of control. And that’s just for people. When dealing with nation states like the US and Mexico, things get a bit more complex, and the stakes a whole lot higher. At the beginning […]
President Biden devoted a significant portion of his State of the Union address earlier this month on Buy American issues. As on most issues, “the devil is in the details,” but his general sentiment is clear. America, he believes, has sent jobs and wealth overseas by allowing Americans to buy imported products. This is a […]
On the morning of Feb. 24, the White House issued a proclamation to adjust aluminum imports and taking further action under Section 232 of the Trade Expansion Act of 1962. Following the guidance of the Secretary of Commerce, the president issued an order adding a 200% duty to Russian metal coming into the US. Imported […]
The US government will impose a 200% tariff on aluminum products of Russian origin starting on March 10, the Biden administration announced Friday. Additionally, starting on April 10, a 200% ad valorem tariff will be applied to products that contain any amount of primary aluminum used in the manufacturing of aluminum products that are smelted or cast in Russia. The […]
Domestic hot-rolled coil (HRC) lost its competitive price advantage over imported steel, ending a 16-week run. The turn came as domestic mills continue to drive prices up at a faster clip than mills overseas, according to Steel Market Update’s latest foreign vs. domestic price analysis. US HRC is approximately 3% more expensive than foreign prices […]
Thirteen US senators from both major political parties wrote to top trade officials last week requesting that Section 232 tariffs be reinstated on some Mexican steel products, notably steel conduit. “In recent months, it has become clear that Mexican steel imports ‘now exceed historic volumes of trade’ and are ‘surg[ing] meaningfully” into our market,” the […]
Domestic hot-rolled coil (HRC) kept its competitive price advantage over imported steel – now on a 16-week run. However, it has continued to lose momentum over the past four weeks, according to Steel Market Update’s latest foreign vs. domestic price analysis. US HRC is approximately 2.2% cheaper than foreign prices this week, down from 3.4% […]
Ternium Mexico president César A. Jiménez sees the company’s investment in Pesquería, outside of Monterrey, as an opportunity to replace imports with steel produced in Mexico. Jiménez sat down with SMU managing editor Michael Cowden at SMU’s Tampa Steel Conference for a Fireside Chat. Beyond Pesquería, he gave his thoughts on a range of topics, […]
Domestic hot-rolled coil (HRC) continues its competitive price advantage run over imported steel – now 15 weeks running – though it did lose some momentum week on week (WoW), according to Steel Market Update’s latest foreign vs. domestic price analysis. US HRC is approximately 3.2% cheaper than foreign prices this week, down from 7.4% last […]
Now that the new year is one-twelfth over, the changes from last year are taking shape. In foreign policy and trade, a primary focus has changed from economics to geopolitics. Trade between the West and China, which has been the key metric for the last 20 years, has tapered off, although it remains strong. Trade […]
Domestic hot-rolled coil (HRC) kept its competitive price advantage run over imported steel – now 14 weeks running – though it did lose momentum week on week (WoW), according to Steel Market Update’s latest foreign vs. domestic price analysis. US HRC is approximately 7% cheaper than foreign prices this week, down slightly from 8% last […]
When President Trump imposed steel tariffs in 2018, he included an exclusion mechanism to liberate customers from tariffs on imported products that were not produced domestically. This was to permit steel-using manufacturers to continue to compete. Steel rolling mills that rely on imported slabs were among the largest users of the exclusion mechanism. When regulations […]