Commerce updates import duties on plate from Korea, Italy
Import duties on cut-to-length plate from South Korea and Italy were recently updated by the International Trade Administration (ITA), which is a part of the US Department of Commerce.
Tag: trade
Final thoughts
Thursday felt eerily quiet after a frenzy of steel and financial market news on Wednesday.
SMU Community Chat: Ira Kreft shares thoughts on M&A, economy, and more
SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.
US HRC now nearly $300/ton more expensive than imports
US hot-rolled coil (HRC) prices continued their upward movement this week, distinctly outpacing increases for offshore product once again. Domestic tags are now 27% more expensive than imports - the widest pricing gap in nearly two years.
HRC Futures: The role a hedge plays
Last week in Chicago, we hosted several metals companies for our bi-annual Metals Price Management Seminar (“MPMS”).
Duties adjusted on coated imports from South Korea, Taiwan
The US Department of Commerce’s International Trade Administration (ITA) has updated the antidumping duties on coated sheet imports from South Korea and Taiwan.
Apparent steel supply increased in October
US apparent supply increased to 8.11 million net tons in October, up 4% compared to 7.82 million tons in September, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).
Pipe import duties sunset for Brazil, kept for six other countries
The International Trade Commission (ITC) made its final injury determination in a sunset review of import duties on circular welded pipe from a handful of countries.
Leibowitz: Steel and aluminum intensity—the trade implications
This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.
October steel exports fall to 2023 low
US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.
November import licenses fall to recent low
A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.
CRU: The 2024 US elections - What it means for policy
The US presidential elections will take place on Nov. 5, 2024.
CRU: More aluminum producers prioritize decarbonization: Industry shift towards sustainability
The LME Aluminum 3-month price is moving up again on the morning of Dec. 8 and was last seen trading at $2,157 per metric ton. The way the price increased first thing in the morning suggests a support may have finally been found, but resistance could hit quickly at $2,200 /metric ton. SHFE cash was […]
USITC continues fact-finding investigation on GHG emissions
The US International Trade Commission (ITC) held a hearing on Dec. 7 with testimonies from members of the domestic steel industry. The USITC is leading a fact-finding investigation on US greenhouse-gas (GHG) emissions.
Miller on scrap: Pig iron market takes off
The prices for all grades of pig iron have dramatically risen since SMU’s last report from Nov. 18.
US HRC now $270/ton more expensive than imports
US Hot-rolled coil (HRC) prices keep rising on the heels of continued mill hikes, outpacing increases for offshore product. Domestic tags are now 26% more expensive than imports, the widest pricing gap since January 2022.
Steel Standards Principles introduced at COP28 in Dubai
A group of organizations and stakeholders introduced a set of Steel Standards Principles at the COP28 UN Climate Change Conference.
Coalition voices concern about potential duties on tin mill products
A coalition of manufacturers, retailers, and stakeholders stands opposed to the imposition of import duties on tin mill products.
CRU aluminum: A call for import monitoring and sustainable practices
CRU analysts share an update on the aluminm markets.
Miller on scrap: Export market prices rising
The export market for ferrous scrap has been strengthening over the last month by a sizable margin.
Steel dominates repeat trade case filings: Report
Steel dominated the industries seeking repeated relief from unfair trade between 1995 and 2020, according to a new report compiled for the International Trade Commission (ITC).
US HRC remains $200/ton more expensive than offshore product
US Hot-rolled coil (HRC) prices continue to move higher following repeated mill increases. The trend has caused domestic tags to become far more expensive than imported offshore hot band.
OCTG producers form trade association to promote domestic industry
Six US manufacturers of oil country tubular goods (OCTG) have come together to establish a Washington, D.C.-based trade association to promote the domestic industry.
Domestic scrap tags seen increasing in December
US scrap prices are expected to rise in December, industry sources told SMU.
Final thoughts
I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.
October imports inch higher, but flat rolled at a six-month low
The increase in steel imports from September to October was higher than license applications had suggested earlier this month.
Final Thoughts
There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]
Leibowitz: IPEF failure a signal for the future?
Last week was billed as big. The annual meeting of members of the Asia Pacific Economic Cooperation (APEC) in San Francisco convened amid much fanfare. A much-anticipated meeting between President Biden and President Xi Jinping of China was a featured event. So also, was the anticipated completion of the framework agreements establishing the Indo-Pacific Economic […]
CRU: US Sheet Prices Soar, Making the Country a Target for Imports
Surging US sheet prices and expanding lead times are making imports more attractive. The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have […]
US HRC Now Theoretically ~$200/ton More Expensive Than Offshore Imports
US Hot-rolled coil (HRC) prices continue to surge on the heels of mill increases. They have become significantly more expensive than prices for hot band imported from offshore. Domestic hot band tags moved higher for a seventh consecutive week. Imports have seen only marginal gains over the same period, according to SMU’s latest foreign vs. domestic price analysis.