U.S. and Mexico take action to tackle Chinese steel overcapacity, imposing duties on certain Mexican steel imports, while Nucor cuts plate prices and China's steel sector remains robust.
Via Metal Miner The Raw Steels Monthly Metals Index MMI fell 4.5% from June to July. Although the pace of declines appeared to slow from the previous month, U.S. flat rolled steel prices remained bearish during June. HRC prices fell nearly 7%, followed by an almost 5% decline in HDG prices and a modest 2% drop in CRC prices. Meanwhile, the plate price downtrend picked up speed, with prices falling over 6%.
officials estimate roughly 13% of total steel imports from Mexico had been melted and poured outside North America. That portion would now be subject to duties under the latest agreement between the two countries. The new duties will likely have a modestly bullish impact on domestic steel prices. For buyers, lower steel prices remain the primary benefit of Chinese product.
Metalminer Mmi Flat Rolled Steel Plate Prices Chinese Steel Mexican Steel U.S. Steel Industry Tariffs Trade Protectionism Global Steel Market
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