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

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May 2019 | Steel Forecaster


US imports are likely to rise following removal of tariffs on Canada and Mexico: International Flat Product Market Analysis


European flat steel producers followed the lead of ArcelorMittal and raised their flat steel prices.

On Friday May 17, the US removed Section 232 tariffs against Canada and Mexico, with Canada eliminating its retaliatory duties in turn. Tariffs were not replaced by quotas as many expected, although the sides agreed on monitoring mechanisms, and the US will be able to re-impose tariffs in case of a surge in imports. Last year, despite an 11.3% year-on-year fall in total US imports, combined imports from Canada and Mexico increased by 3.6% year on year, reaching 9.1 million tonnes, winning a 29.9% share of the US import market - the highest since 2011. However, this year the situation has changed, and...

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