US not to pursue tariffs on Brazilian steel

Brazilian leader Jair Bolsonaro announced on social media following a conversation he had with Donald Trump that the US President has decided not to pursue tariffs on Brazilian steel. The US was threatening to reimpose the 25 percent safeguard duty on imports of Brazilian steel and the 10 percent tax on imports of ex-Brazil aluminium. No official document has yet been released by the US on the issue.  Read More

The US has reinstated tariffs on all steel imports from Brazil and Argentina

The US has reinstated tariffs on all steel and aluminum imports from Brazil and Argentina with immediate effect, on currency issues, US President Donald Trump tweeted earlier today. The Trump administration imposed a blanket 25% tariff on all steel imports, and of 10% on all aluminum imports, in March 2018 under Section 232 legislation,. Later in June 2018, the restrictions on Brazil and Argentinian steel and aluminum were converted to a quota system.... Read More

Short Range Outlook : September 2019

Global long steel market currently depressed amid more difficult circumstances The global long steel products market is depressed at the moment as circumstances are becoming more difficult. It has become a buyer’s market and is difficult to secure orders at reasonable prices. The problem lies more on the demand side rather than with supply, and, therefore, it might take longer for a balance to be reached. Steel prices decline amid sharp drops in... Read More

The program of the 81st meeting in Duesseldorf

Day 1: Sunday, September 22, 2019 19:00 – 22:00                        Welcome cocktail at Hilton Duesseldorf   Day 2: Monday, September 23, 2019 09:00 – 09:15                   Welcome address by Chairman of IREPAS   09:15 – 10:15                     SESSION ONE – Global Markets: What are the future challenges and opportunities? -  Global economic... Read More

Short Range Outlook : July 2019

Uncertainty still prevails in global longs market , while BOF production faces severe pressure The outlook for the global long steel products market differs for the scrap industry, the steel producing industry and for steel consumers. The market can be described as generally unstable as there is still a lot of uncertainty and even a tweet may turn a lot of things upside down. We are going through a tough period particularly for BOF-based producers,... Read More

Short Range Outlook : June 2019

Uncertainty in global long steel products market increases dramatically The uncertainty in the global long steel products market has increased dramatically. Nowadays, the most stable region is China, where steelmakers have been increasing their weekly production volumes, whereas the rest of the world is just trying to hang on. Ferrous scrap and iron ore price trends decouple completely Ferrous scrap and iron ore price trends have completely decoupled. Iron... Read More

US to impose five percent tariff on all Mexican goods as of June 10

According to a White House statement, US President Donald Trump has said that, starting on June 10, the United States will impose a five percent tariff on all goods imported from Mexico. He added that this tariff will be increased up to 25 percent in the coming period if Mexico does not take action to dramatically reduce or eliminate the number of illegal aliens crossing its territory into the US. The White House statement indicated that, if the illegal... Read More

Canada and Mexico officially lift retaliatory tariffs against the US

According to multiple news reports, Canada and Mexico on Monday lifted retaliatory tariffs on US goods, including steel,  aluminum, whiskey and beef, after the US lifted on Friday Section 232 tariffs on steel and aluminum imports from the two countries. All three countries are currently working on ratifying the new USMCA trade deal. Canada and Mexico had both insisted previously that the tariffs be lifted before the trade deal was implemented.  Read More

US to lift Section 232 tariffs on Canadian and Mexican imports

In a joint statement today, the US and Canadian governments announced the US will lift Section 232 duties on steel and aluminum imports from Canada and Mexico, in anticipation of ratifying the new USMCA trade deal. Canada in turn will remove retaliatory tariffs on US exports to the country. In addition, the US and Canada will drop all pending litigation in the World Trade Organization related to the tariffs, set up measures to prevent “unfairly... Read More

US reduces tariffs on Turkey to 25 percent

The White House has announced that the 50 percent duty on Turkish steel imports has been halved to 25 percent as of May 17. In a statement, the administration said that since the implementation of the higher tariff, steel imports from Turkey declined 48 percent in 2018, “with the result that the domestic industry’s capacity utilization has improved at this point to approximately the target level recommended” in the initial DOC report... Read More

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