Section 232 Exemptions
President Donald Trump, on August 29th, signed a proclamation to allow specific exclusions for steel imports from South Korea, Brazil and Argentina. In addition to aluminum imports from Argentina.
Although the standard 25% Section 232 tariffs must still be paid. The proclamation states these exclusions are for steel used in projects that employ thousands of US workers.
Also, the steel must be imported before March 2019.
Steel Plate Prices Stable
The market is strong with participants reporting extended mill wait times.
August steel plate sales volumes were active. And demand has increased prices to levels not seen since 2011. Prices may achieve new highs before end of year.
Plate mills are busy and the environment exists for a price increase. Lead times are from eight to nine weeks, with supply for larger tonnage tight.
Tight supply is supporting higher prices. It is a stable market expected to remain into the anticipated future.
US demand continues to support current plate prices. One reason for the support is strong construction and fabrication sectors.
Cold-rolled and galvanized sheet
Distributors speculate that cold-rolled coil prices are being driven by expectations of peak prices, in addition to surplus supply. Also, there is more confidence regarding trade talks between the US, Canada and Mexico.
The Section 232 tariffs still remain in place against Canada and Mexico steel exports to the United States.
Inventories are lean but manageable. Lead times for cold-rolled coil average six to eight weeks. Lead times for galvanized material average four to eight weeks.
It is best to go with a proven expert in their field. Call us if your company requires a secure supply of stainless sheet, aluminum sheet, cold-rolled sheet or galvanized sheet metal.
When you are ready to save time, money and make your steel buying easier, give us a call. Our sales team is waiting to work with you.
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