Steel News – June 2019

houston steel news june 2019

Mexico Tariffs Suspended

On June 7, US President Donald Trump signed an agreement with Mexico to indefinitely suspend the tariffs he was to add to all Mexican imports. President Trump stated:

“Mexico, in turn, has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border. This is being done to greatly reduce, or eliminate, Illegal Immigration coming from Mexico and into the United States.”

HRC Duties Extended For 6 Countries

The US Department of Commerce has extended anti-dumping duties on HRC flat products from six countries. On June 10, a notice in the Federal Register stated HRC from China, India, Indonesia, Taiwan, Thailand and Ukraine is likely to still be dumped if the duties were removed.

Dumping margins for these countries vary from 20.3% for Thailand to 90.83% for China.

Duties Cut On South Korean HRC

On June 11, countervailing (anti-dumping) duties on hot-rolled coil from South Korea were cut to below a percent. Previously, in 2016, the steelmaker Posco had duties set to 58.68%, and steelmaker Hyundai set to 3.89%.

South Korea is second behind Canada for HRC exports into the US market. Because South Korea agreed to quotas, they have not been subject to Section 232 tariffs.

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