Tag: tariffs

The Canadian government announced a remission process for businesses for recently announced tariffs on Chinese steel and aluminum products and electric vehicles .

Ankara has placed anti-dumping duties of ranging from 6.10% to 43.31% on hot-rolled steel sheet from China, India, Japan, and Russia. Meanwhile, Malaysia has announced it will investigate allegedly dumped steel wire rod from China, Indonesia, and Vietnam.

China is challenging Canada’s decision to put tariffs on imports of Chinese steel, aluminum, and electric vehicles.

Former President Donald Trump has said he will place a 200% tariff on John Deere products imported into the US if the company makes good on previously announced plans to move some production to Mexico.

Ternium USA Inc. has requested a host of Section 232 tariff exclusions since the US reimposed the duties on Mexican steel earlier this summer. Domestic steelmakers, however, are pushing back.

https://www.brown.senate.gov/newsroom/press/release/sherrod-brown-casey-fetterman-biden-administration-level-playing-field-american-octg-industry

Canada has announced a 25% tariff on Chinese steel and aluminum, along with a 100% tariff on Chinese EVs.

Canada’s steel and aluminum industries joined forces to call on the government for the imposition of tariffs on steel, aluminum, and electric vehicles.

Nearly 1,200 people have registered for SMU Steel Summit, which is less than a month away now. That means we’re still on pace to meet or exceed last year’s record attendance despite a tough flat-rolled steel market over the last few months. So, a big thank you to everyone who already plans to go for your continued support. If you haven’t booked travel yet, don’t miss out on one of the greatest shows in steel – register here. (You can also check out the latest agenda here.)

Nucor’s top executive expressed concerns over unfair trade practices, highlighting increased steel imports from Mexico and Canada.

Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.

I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).

Steel Dynamics Inc. executives provided further insight into operations at the company’s Sinton, Texas, flat-rolled steel mill on a second-quarter earnings conference call on Thursday morning. Despite a series of start-up woes, the company recently commissioned two new coating lines there, and the mill continues to ramp up production. The execs were also bullish on […]

US hot-rolled (HR) coil prices this week drifted further below offshore hot band prices on a landed basis. The premium is now near a two-year low. SMU’s check of the market on Tuesday, July 16, put domestic HR coil tags at $640 per short ton (st) on average, down $10/st from last week. Stateside hot […]

There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!

There are a lot of rumors swirling around the steel market over the last couple of weeks. Chief among them was that we might see a price hike after Independence Day. Another concerns a key detail in the new Section 232 agreement with Mexico. Namely, steel imported from Brazil into Mexico. Of particular interest is its potential implication for slabs imported from Brazil, rolled in Mexico, and then exported to the US.

Steel is, mostly for historical reasons, a bellwether of international policy. No longer an industry of primary importance, its advocates still proclaim that it is. And steel still continues to punch above its weight in Washington, DC. Below are a few recent examples.

A roundup of CRU aluminum news.

The Mexican government said on Thursday that it had negotiated a temporary carve out for Brazilian steel in recently updated Section 232 rules. Mexico said that the pact would stretch until 2027, by which point all steel exported to the US would have to me “melted and poured” within North America.

US hot-rolled (HR) coil prices continued to drift lower this week, falling further below imported hot band tags on a landed basis. SMU’s check of the market on Tuesday, July 9, put domestic HR coil tags at $650 per short ton (st) on average, down $15/st vs. last week. Domestic HR coil prices are now […]

The US and Mexico announced measures on Wednesday to prevent tariff evasion and protect North America’s steel and aluminum industries.

US hot-rolled (HR) coil prices fell again this week – now on a 13-week run – causing tags to drift further below offshore hot band prices on a landed basis.

US hot-rolled (HR) coil prices have continued to drift lower, pushing them further below offshore hot band prices on a landed basis.

The Canadian Steel Producers Association (CSPA) has lauded Canada’s decision to launch an investigation into China’s unfair trade practices in electric vehicles (EVs). However, the association hopes the government will go even further and extend the investigation into other sectors.

A press conference at a Cleveland-Cliffs mill in Ohio touched upon several topics, including the unfair trade practices of Mexico and China and Nippon Steel’s proposed acquisition of U.S. Steel.

Uncertainty surrounding demand, the US presidential election, tariffs, and taxes is weighing on North American metalforming companies.

The chairman of a large American steel company called for Mexico to be dropped from USMCA at a steel industry conference last week. This follows earlier calls from members of Congress to reinstate Section 232 duties on Mexico. How did we get to this point?

Please enjoy this roundup of recent news from the aluminum industry from our colleagues at CRU. EU to hit Chinese electric cars with tariffs up to 48% The European Commission notified carmakers on June 12 that it would provisionally apply additional duties of 17-38% on imported Chinese EVs from next month. The duties will be […]

US hot-rolled (HR) coil prices fell further this past week, pushing them below offshore hot band prices on a landed basis.

Former President Trump’s visit to Capitol Hill last week made a lot of news. One proposal directly involves international trade and tariffs. While the specifics are hazy, President Trump allegedly talked about replacing the federal income tax on individuals with tariff increases. Let’s check that out.