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Q3 2018 Steel Report (July 24, 2018)
Q3 2018 Synopsis:
NA steel prices continued their upward trajectory which began in Q1, gaining 7% in Q2, while EU steel prices dropped 2% over the same period. Chinese prices increased 5% despite increasing trade frictions stemming from 232. Most of the steel industry’s focus has recently centered around the US’s section 232 investigation, as new, critical details emerge and change the outlook on a seemingly constant basis. The sweeping 25% tariff on imported steel products and 10% tax on aluminum currently leaves only South Korea exempt and has prompted much retaliatory action.