Global Steel Sector in Turmoil
The implementation of Section 232 by the US authorities has
created chaos in steel markets, worldwide. Since the investigation was launched,
in April 2017, steel prices have rocketed. MEPS’ reported selling value for the
main benchmark product, hot rolled coil, has increased by 40 percent, in North
Further tariffs are now being considered, by the US, for imports of a wide range
of manufactured goods that have a high steel content. These include automobiles
and associated spare parts. Other manufactured goods are under consideration for
inclusion in the extended regime.
Numerous retaliatory actions have been announced by trading partners of the US.
Furthermore, import restrictions are under consideration, by many national
authorities, as they fear the distortion of trade flows. Protectionist measures,
which started because of steel imports into the US, may spread around the world
and affect a wide range of manufactured goods. This would undo years of careful
negotiations towards free trade.
North American Carbon Steel Price
MEPS - International
Steel Review - July 2018 Edition
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