This CRU Insight discusses a few key topics our clients have been asking about as 2024 comes to a close and 2025 begins. This piece introduces these topics briefly now before we discuss them in more detail in a webinar in January 2025. In previous years, we have published a year-end Insight on our ‘Top […]
“New commodity-specific tariffs, mainly on steel and aluminum products, could widen price differentials and divert trade flows,” the credit agency forewarned.
With just over a month to go until Inauguration Day on Jan. 20, President-elect Donald Trump has already signaled some of his policy choices that will affect the steel industry.
Monthly imports have remained within a relatively narrow range since June, significantly lower than volumes seen earlier this year, but stronger than late-2023 levels.
Vedoya said the proposed tariffs are "an irrational measure that would harm both their own industry and ours."
Transition to a new administration is always uncertain. This one is more uncertain than most.
The BRICS countries of Brazil, Russia, India, and China, and South Africa met last month, along with several other associated nations. Among the topics discussed was the potential establishment of an alternative world currency to compete with the US dollar.
President-elect Donald Trump announced that Peter Navarro will serve as his senior counselor for trade and manufacturing.
“We are under constant threat from nonmarket economies who evade our trade laws," SMA said.
American and Canadian steel trade groups, as well as the government of Mexico, have responded to President-elect Trump's threat of imposing 25% tariffs on all US imports from Canada and Mexico and a 10% tariff on imports from China.
Are you still recovering from the election? If so, please get plenty of rest. Next year will require you to be awake and alert. Things are likely to change. We can’t be sure exactly how they will change yet.
The OECD Steel Committee convened its 96th session last week in Paris, along with the Global Forum on Steel Excess Capacity. The event brought together 250 government and industry delegates from 40 of the largest steel-producing countries. The Committee’s discussions and presentations were clear: Steel markets worldwide are in dire straits.
After a frenzied election cycle, Donald Trump will return to the White House with an amplified trade agenda.
September steel imports were 10% less than August levels, marking the lowest monthly import rate seen this year
Last week’s Community Chat with international trade attorney and regular SMU columnist Lewis Leibowitz was packed full of valuable perspectives on trade topics near and dear to the steel industry.
The Global Forum on Steel Excess Capacity (GFSEC) reaffirmed on Oct. 8 what domestic steel producers have long known—the threat of excess steel capacity never disappeared and is evolving. China’s steelmakers are boosting capacity and exports, echoing the 2016 global steel crisis. There is no doubt that China is successfully weaponizing excess capacity across many industries, and the fatal damage to domestic production and national security undermines the interests of all market-oriented countries. The question now is: How will GFSEC countries respond?
China is challenging Canada’s decision to put tariffs on imports of Chinese steel, aluminum, and electric vehicles.
Another day, another massive gap between the news and market sentiment. On the news side, we’ve got war in the Middle East. The devastation facing western North Carolina coming into tragic focus. And the outcome of the presidential election remains a coin toss, according to current polling.
All eyes are on the coastwide longshoremen's strike, with many scrambling to assess the situation and understand its implications for their businesses and the economy.
The International Longshoremen’s Association (ILA) launched a strike just after midnight on Tuesday at East Coast and Gulf Coast ports. The work stoppage spans from New England to New Orleans. It came after a last-ditch offer by the United States Maritime Alliance (USMX), which represents maritime employers, failed to meet union demands.
US hot-rolled (HR) coil prices inched up again this past week but remain just a touch more expensive than offshore material on a landed basis.
A potential labor strike is threatening to disrupt supply chains up and down the Atlantic and Gulf Coasts beginning next week.
Continued highly competitive steel exports from China, amid weakening global demand, have triggered a wave of trade protectionism across major markets.
The only way to achieve net zero goals worldwide is to significantly reduce the greenhouse gas emissions of the global steel industry. And emissions standards can play a key role in encouraging (or discouraging) steel decarbonization. In that spirit, earlier this year, the Biden administration established a climate and trade task force, aimed at a promoting “a global trading system that slashes pollution, creates a fair and level playing field, protects against carbon dumping, {and} supports good manufacturing jobs and economic opportunity.” These are ambitious and laudable goals. Across sectors, the United States has a significant carbon advantage over many of its economic competitors. This is certainly true in the steel industry, where American manufacturers are among the lowest emitting in the world. In other words, when it comes to steel, climate-focused trade policy can go hand-in-hand with US competitiveness.
Following May’s five-month low, US steel exports ticked higher in July, according to the latest US Department of Commerce data. The amount of steel exiting the country rose 6% month on month (m/m) to 818,000 short tons (st). This is back in line with trade levels seen in recent months.
Trade is always front and center in an election year. And 2024 is no different. There is no shortage of issues, with questions like the sale of U.S. Steel to Japan’s Nippon Steel, potential cracks in the USMCA, and Chinese overcapacity dominating the headlines. But how do you distinguish between issues that might just last until November, and what are the crucial questions that could affect your business for years to come?
CANACERO's General Director Salvador Quesada Salinas shares his thoughts on the Mexican steel trade 'myth' and what US trade data really shows.
Nippon Steel and other Japanese steelmakers are lobbying for the Japanese government to limit imports of Chinese steel, according to a report in Reuters.
This CRU Insight explores how decarbonization will play a significant role in redefining steel trade patterns by shifting regional competitiveness and increasing steel demand needs.
US hot-rolled (HR) coil prices continue to move higher, surpassing tags for offshore material on a landed basis. Domestic prices, improving on the heels of firmer US mill offers, pulled ahead of import tags as the stateside gains this week were sharper than the increases in overseas markets. SMU’s check of the market on Tuesday, […]