April 24

Healthy Domestic Steel Environment


On April 22, Steel Dynamics Inc (SDI) CEO, Mark D. Millet, said he anticipates 232 tariffs will be replaced by “quota-based programs” for Canada and Mexico.

He stated, “We anticipate reciprocal 232 tariffs between the US, Canada and Mexico will be replaced by alternative, effective quota-based programs … prior to ratification of the [USMCA] agreement later this year.”

In the past, SDI has indicated US quotas could better control an overcapacity of global steel.

Healthy Domestic Steel Environment

Also, Millet was positive on domestic steel, stating “the actions taken by the US federal government have developed a healthy domestic steel environment and should provide sustainable, long-term support for the US manufacturing base.”

As talked about in a previous post, SDI will be building a $2-billion flat-rolled steel mill in either Texas or Louisiana, and expect to be online the second half of 2021.

Millet commented on the healthy domestic steel environment, saying “the continued stabilization and improvement in flat-roll steel prices are having a positive impact,” and further commenting on “continued strength in the automotive, energy and industrial sectors.”

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