US Steel and Nucor Announce Price Increases
02/20/2025
U.S. steel producers Nucor and U.S. Steel implement consecutive price increases for hot-rolled coil (HRC) and other steel products.
President Donald Trump's announcement of a 25% tariff on automotive imports, set to take effect on April 2, 2025
Effective immediately, the CSP HRC base price for the week of February 17th will be $820/ton for all producing mills, except CSI, where our CSP HRC base price will be $880/ton.
The Dodge Momentum Index for January 2025Â has risen to 225.7 from 213.6 in December of 2024
This change indicates an increase of commercial and industrial construction. Both sectors are heavy consumers of metal and steel products. This momentum index is a strong indicator for an increase of construction projects later in the year.Â
Increased Duties on Specific Products: As of December 31, 2024, Turkey increased import duties on some hot-rolled coil (HRC) and cold-rolled coil (CRC) grades, particularly for alloyed and stainless steel items. Previously duty-free alloyed and stainless steel items now face tariffs.
Duty Rates for Non-Alloyed Products: Commodity-grade non-alloyed steel duties remain unchanged at 13-15% for 2025. The duty on non-alloyed cold-rolled products is stable at 17%1.
Galvanized and Pre-Painted Galvanized (PPGI) Products: Hot-dip galvanized (HDG) imports and PPGI products continue to face a 20% import duty. Some alloyed grades now have a duty of 20%, up from 15% previously.
New Duty Rates for PPGI Products: As of January 1, 2025, new import duties were introduced for certain PPGI products under updated customs codes. Products with specific thicknesses will be subject to duties ranging from 15% to 20%5.
Anti-Dumping Duties: Turkey has also imposed anti-dumping duties on hot-rolled steel imports from China, India, Japan, and Russia, with rates ranging from 6.10% to 43.31% of the CIF value9. This move aims to protect Turkish producers from dumped imports.
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