CR imports from Germany, Italy, and Japan on a landed basis remain much more expensive than domestic product. But South Korean imports remain competitive, in theory, even with the 50% Section 232 tariff.
The price gap between US hot-rolled coil (HR) and landed offshore product remained within a tight band this week. The dynamic continues as both stateside and offshore prices have trended higher.
The UK will reduce steel import quotas and raise outside caps to 50%.
US steel exports jumped 33% in January but remain historically low, according to recently released US Department of Commerce data.
Steel imports remained close to multi-year lows in January and February, according to US Commerce Department data released this week.
A year after being blindsided by hefty tariffs from its top trading partner, Canadian steelmakers are renewing their call for tariff-free trade between the US and Canada.
Cold-rolled (CR) coil prices ticked up in the US this week, matching a similar trend seen in most offshore markets as well.
CVDs and anti-dumping duties matter when importing steel. Korea often offers very competitive import rates. The importer of record is responsible for paying any ADs, CVDs, or tariffs.
The American Metals Supply Chain Institute (AMSCI) said increasing insurance premiums, potential vessel diversions, and contractual risk evaluations began in the global freight market as geopolitical conflict escalates in the Persian Gulf region.
I grew up in Belo Horizonte, the capital of Minas Gerais in southeastern Brazil, surrounded by the Serra do Curral mountains, and a culture steeped in mining and vast iron ore reserves.
Tariff-related litigation in the US and around the world reflects the willingness of the president to act without consulting Congress or our trading partners. We're seeing the impulse to act without congressional approval in international relations too.
Entering 2026, tin has led a frenzied base metal rally during a historic phase for commodities. Frothy market conditions, driven by volatile investor positioning and shifting macro risk sentiment, pushed several metals—including tin—to record highs in January, before a sharp correction in February.
Trade for many of the sheet and plate products we follow has fallen to multi-year lows through December.
With domestic steel prices rising steadily and mill lead times pushing out, import offers are becoming more attractive to US buyers.
Steel imports slowed further in December and January to some of the lowest volumes recorded in recent years.
The US Department of Commerce is adjusting the countervailing duties (CVDs) on steel plate imports from Korea.
The wait for an answer is finally over (sort of). In a six-to-three decision, the Supreme Court invalidated the Administration’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs.
On Friday, the Supreme Court released its long-awaited decision on the IEEPA (International Emergency Economic Powers Act) tariffs imposed by president Trump beginning last April. As most of you already know, by a six-to-three majority, the Court ruled against the president.
SMU's Steel Buyers’ Sentiment Indices continue to show that steel buyers are optimistic for their businesses’ chances of success.
Last week, news stories (first in the Financial Times) appeared that the Trump administration was working on adjustments to steel and aluminum derivative tariffs. Ostensibly, these tariffs are only imposed on the steel or aluminum “content” of derivative products. But Customs has not provided clear guidance on how to calculate content. Confusion and controversy are running rampant.
Strategic Resources also discussed its project in Quebec, which will include a 4-million-ton/year DRI-quality iron ore pelletizer. It also plans to build a plant to produce DRI, then convert it to pig iron in an EAF.
Earlier this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events.
November steel exports tumbled 15% from October to the lowest monthly export rate since July 2020.
Steel imports remain weak in November and December according to recently released final US Commerce Department data. Many of the sheet and plate products we follow slipped to multi-year lows.
There is no evidence that unofficial talks are taking place to secure tariff reductions on Canadian aluminum or steel. One of the biggest challenges is simply understanding what the US actually wants from Canada.
Tariffs affect different parts of the economy differently. Tariffs on steel imports have contributed to price increases from domestic mills, improving their bottom lines. But orders from customers are slowing down, hurting downstream industries’ profitability and job prospects.
US steel imports have fallen sharply under the new 50% Section 232 tariff regime. Jerry Richardson, general director of CSN LLC, discussed on an SMU Community Chat this week how the market is now structurally tighter and more volatile than at any point in the past decade.
As more contracts are up for negotiation in 2026, labor is poised play a larger role in operational planning at a time when trade issues and high prices also are in play.
The volume of steel shipped outside of the country increased 11% from September to October 2025 to a seven-month high of 662,000 short tons (st), according to recently released data from the US Department of Commerce.
Members of the Congressional Steel Caucus met in Washington on Wednesday to assess the state of the domestic steel industry. Lawmakers and industry leaders discussed the importance of Section 232 tariffs, strong trade enforcement, and continued investment in American steelmaking.