US, Canada progress towards trade deal that could see steel, aluminum tariffs halved: Report
The tentative trade pact would lower tariffs on some steel and aluminum products from 50% to 25%.
The tentative trade pact would lower tariffs on some steel and aluminum products from 50% to 25%.
August survey results showed stronger demand alongside shorter measured lead times, while imports became more competitive and forward expectations moved toward balance.
Commerce opened circumvention inquiries into disposable aluminum container imports from Malaysia and Indonesia while earlier Vietnam and Thailand cases continue toward final determinations.
Commerce issued preliminary antidumping duty determinations on Mexican and Canadian van-type trailer imports, with Mexico receiving higher preliminary margins.
Recent earnings show stronger shipments in specific rolled products than extrusions, but changing automotive programs, billet supply disruptions and trade flows complicate broader market conclusions.
The incentive is geared toward companies who commit to building new facilities or expanding or refurbishing existing plants.
Additional attacks on commercial shipping, renewed US military operations and a resumed naval blockade coincided with aluminum prices recovering from early July lows.
EGA reported progress restoring its Al Taweelah complex while US import data highlighted changing aluminum trade flows following the regional conflict.
Century Aluminum's memorandum with Brimstone adds to efforts to expand domestic alumina supply as imports continue to dominate the US market.
June survey responses showed scrap market participants becoming more cautious on premiums, scrap availability and exports, while downstream demand indicators remained comparatively firmer.