The US DOC’s recommendations for remedy in the Section 232 investigation were made public last Friday, and the items, which included everything from blanket tariffs on imports, to a tariff of 53 percent against several specific countries along with an added possibility of import quotas, has buyers and sellers of US import hot dipped galvanized (HDG) and Galvalume coil feeling wary.
“At this point we really can’t plan for what may or may not happen because when it comes to the Trump Administration, the president seems to be most influenced by the last person he’s spoken to, which means his position on the 232 could be changing four times a day,” a source said. “Of course everyone is nervous and the only thing anyone can agree on is that all outcomes are possible."
Earlier today, Turkish Steel Exporters' Association (CIB) chairman Namık Ekinci stated that if the US imposes 53 percent duty on steel imports from certain countries including Turkey, Turkey’s steel exports to the US will come to a halt.
Yesterday, the American Institute for International Steel (AIIS) put out a statement indicating its belief that the recommendations in the US Department of Commerce’s Section 232 report are “excessive and unnecessary” and, if implemented, would negatively impact the US’ economic growth.
Trump is expected to make a final decision by April 11.
| 0.012”x40.875” G30 HDG coil | cwt. | metric ton | net ton | change since last week | |
| UAE / Turkey / Vietnam | $45.50-$47.50 | $1003-$1047 | $910-$950 | DDP loaded truck in US Gulf coast ports | up $0.50 cwt. |
| South Africa | $48-$49 | $1058-$1080 | $960-$980 | DDP loaded truck in US Gulf coast ports | up $1.00 cwt. |
| 0.019x41.5625 Gr80/AZ55 Galvalume | |||||
| Brazil / Vietnam | $46-$48 | $1014-$1058 | $920-$960 | DDP loaded truck in US Gulf coast ports | neutral |
| Taiwan | $50-$51 | $1102-$1124 | $1000-$1020 | DDP loaded truck in US Gulf coast ports | neutral |