Robert Stowe England

1 month ago | fastmarkets.com | Robert Stowe England

US-based automakers will advance domestic US expansion of cars and light trucks, as well as their components and parts. This is to reduce the impact of the 25% auto tariffs. According to sources, they are raising production at existing facilities that have additional capacity and exploring restarting idled facilities. While new auto assembly plants, stamping plants and auto parts factories take years to bring online, existing production facilities are operating below capacity.

1 month ago | fastmarkets.com | Robert Stowe England

“While $20 billion is a lot, it’s not a huge amount, but it will give an incentive to fortify the infrastructure to build ships and that capability is definitely missing in the US,” a steel plate distributor said. “The raw material in a $20 billion investment won’t be much but it’s a lot more than anyone did in the past. I’d guess it will amount to $2 billion over several years. So while it won’t move pricing or demand much, the psychological impact is huge,” he said.

2 months ago | fastmarkets.com | Robert Stowe England

US President Trump has ordered US Commerce Secretary Howard Lutnick to double US tariffs on Canadian steel and aluminium from 25% to 50% in retaliation for a 25% tariff on electricity shipped into the US, imposed by Ontario Premier Doug Ford on Monday March 10, the president announced on the social media site Truth Social.

2 months ago | fastmarkets.com | Robert Stowe England |Gabriela Brumatti |Ana Enis

US President Donald Trump issued an executive order on Monday February 10 restoring the full 25% tariffs that were initially imposed in 2018, under Section 232 of US trade regulations, to apply to imports of steel articles from all countries, in an attempt to stem a surge in imports that he said once again was a threat to national security.

Feb 6, 2025 | fastmarkets.com | Robert Stowe England

The assessing reporter entered an incorrect price from a source for MB-STE-0203 steel merchant bar, loaded truck Port of Houston for immediate delivery, resulting in the publication of a range of $900-1,000 per short ton on December 3 and a range of $860-980 per short ton on December 27. The correct price for both periods is $850-870 per short ton. Fastmarkets’ pricing database has been updated to reflect this change. This price is part of the Fastmarkets physical steel package.