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

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March 2018 | North American Steels


US flat steel prices rise on Section 232, but gains might be limited: US Flat Product Highlights


The US Department of Commerce (DoC) secretary Wilbur Ross is expected to publish procedures of how those seeking exclusions should proceed.

Following weeks of market speculation, on March 8 President Trump signed off blanket 25% tariffs on steel imports into law, granting exemptions only to Canada and Mexico and now Australia. Tariffs will be implemented within 15 days from the announcement, but end users can apply for exemptions for those products where there is a lack of sufficient production capacity in the US, and waivers can be given to certain countries.

The US Department of Commerce (DoC) secretary Wilbur Ross is expected to publish procedures of how those seeking exclusions should proceed. The European Union is also actively seeking exclusions for its member states, and the list can be continued. With this, the full extent of the 232 policy is still difficult to ascertain, as if exemptions are granted to a wide range of products and countries, the effect of tariffs might be minimal.




Since the DoC released its recommendations in...

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