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Q1 2019 Steel Report (January 2019)
Q1 2019 Synopsis:
NA steel prices continued to plunge in Q4 2018 and have now reached pre-tariff levels, correcting from the inflated run-up during 2018. Chinese and European prices have also seen downward movement, posting 15% and 6% Q4 reductions, respectively. Overall expectations are for a weak Q1 2019 as global demand & economic uncertainty are continuing to drag prices down. As section 232 tariffs continue in the US, the European Commission has formally ratified (as of January 2019) a 25% safe guard tariff on steel products that exceed import quotas established in the investigation process.