Representatives from Mexico and Canada have indicated they want to meet with US Trade Representative Robert Lighthizer in hopes of resolving their differences on NAFTA, although it is not believed that any major announcements will come this week.
The three partner countries have already participated in seven rounds of talks; sources in Washington, DC have indicated they believe it may take several more weeks for a final renegotiation deal to be completed.
Steel industry sources say that while they’re hopeful a deal will be reached sooner rather than later, they agree that due to the chaos of the current administration, any outcome is possible.
“Everyone is being cautious because the temporary Section 232 exemption for Mexican steel could be ripped up at any moment,” a source said. “It’s really hard to do business in this type of environment.”
Current pricing for US import 0.012”x40.875” G30 HDG coil from Mexico is listed in the chart below.
| 0.012”x40.875” G30 HDG coil | cwt. | metric ton | net ton | |
| Mexico | $60-$63 | $1323-$1389 | $1200-$1260 | Delivered to Houston |