Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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March 2018 | North American Steels


Section 232 tariffs bolster already rising US long products market: US Long Product Highlights


As long Nafta negotiations continue, Canada and Mexico will not be subject to the tariff, and this is especially significant for cold heading wire rod, for which Canadian shipments have greater than a 40% market share.

As was widely expected, US steel mills wasted little time announcing that they would be raising their prices following President Trump’s March 8 proclamation that he would be imposing 25% tariffs on US steel imports in response to the Department of Commerce’s Section 232 investigation. By March 13 several major domestic producers, including Nucor, Gerdau and Commercial Metals, announced that they were raising most long product prices by $40-50 per ton – even before it was clear what countries and/or products would be exempt from the tariffs that go into effect on March 23. ...

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