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Tool steel’s role as an economic precursor was upended during the once-in-a-lifetime pandemic-induced downturn.
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NLMK Indiana and NLMK Pennsylvania, NLMK Group’s American division companies, have reached an amicable settlement with the United States government resolving NLMK’s lawsuit challenging the Department of Commerce’s denial of NLMK’s requests for exclusion from Section 232 steel tariffs. The government has agreed to refund NLMK USA a significant portion of the tariffs it had paid, with accrued interest.
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The auto shutdowns put the brakes on activity in the spring, but demand has rebounded nicely for the North American sheet market.
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Coronavirus, tariffs and energy problems have kept the Canadian industrial economy on edge, though the rest of country’s manufacturing sector has emerged in decent shape.
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On land, air or sea, aluminum is playing an increasing role in helping move people and things.
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The virtual SMU Steel Summit 2020 spread knowledge among those in the steel industry.
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Iowa Senators Joni Ernst and Chuck Grassley, who serves as the Senate Finance Committee chairman, have requested Section 232 tariffs be lifted on any steel needed by the state in its recovery from the August derecho storms, particularly steel used for rebuilding grain bins and machine sheds.
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The metals industry celebrated the Entry in Force of the United States-Mexico-Canada trade agreement in July, ushering in a new period of peaceful coexistence of the metals communities in the continent’s three largest economies.
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The Trump administration has reinstated Section 232 tariffs on non-alloyed unwrought aluminum from Canada. The decision was criticized by the Aluminum Association.
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The metals industry celebrated the Entry in Force of the United States-Mexico-Canada trade agreement this week. For the North American aluminum industry, the rejoicing was short-lived.
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The Aluminum Association is asking for significant reforms to the Commerce Department’s Section 232 tariff exclusion system. The association submitted a letter to Commerce Secretary Wilbur Ross.
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At the FMA Annual Conference, supply and demand took a backseat to the ongoing novel coronavirus outbreak and its effect on the global economy.
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A&T Stainless will idle its Direct Roll and Pickle operations in Midland, Pa., by the end of June. The company cited the inability to get relief from Section 232 tariffs as the cause of the decision.
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The outlook for copper, brass and bronze products offers positive and negative signs in near-equal measure.
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Domestic metals executives are not just hoping for Donald Trump’s re-election, they’re expecting it. Those were two of the results from Headwall Partners’ latest survey of the metals industry.
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President Donald Trump has expanded the application of Section 232 tariffs on aluminum and steel products to include “derivatives” of those items, downstream products where steel or aluminum make up more than half the good. The decision to expand the tariffs was made to thwart attempts to circumvent the original duties, a proclamation from the president stated.
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Following a strong 2018, the market for special quality bar products took a nosedive this year.
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The market for nonferrous metals has held up reasonably well, and experts are hopeful the trend continues into 2020.
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