US import HDG prices stable week-over-week

US import HDG prices have remained stable in the past seven days; the current price trend comes after some softening that took place one week prior.

“Brazil is still being aggressive and they’re moving to fill up their quarterly quota sooner than later,” a trader source said, noting that bookings across the board remain strong.

Buyers in the US, however, are paying close attention to today’s mid-term elections. Some US-based businesses are indicating that the import tariffs are prohibitive; some are reporting that they’ve lost orders from customers due to the cost of imported steel, while others have said they’ve been forced to trim their workforce due to the Section 232 tariffs.

Should Democrats be successful in today’s elections, there may be a stronger push to roll back the tariffs. Some SteelOrbis sources continue to report a widespread belief that global quotas will eventually replace tariffs, although there has been no indication as to when and if that may happen.

US import HDG pricing, from countries listed below other than Brazil, include the 25 percent steel tariff. Brazilian mills are exempt but are subject to a quota.