With the up trend domino effect in all markets, today 13th December 2019, new price Formosa Ha Tinh has increased officially 15 usd/ton for end of January/February 2020 shipment.
HRC SAE1006 skin-passed: 485 usd/ton CIF FO (470 usd/ton CIF previously)
HRC SS400 and pipe making grade: 475 usd/ton CIF FO (460 usd/ton CIF previously).
HRC SPHT3, S235JR, SG255 and SS490: 505 usd/ton CIF FO (490 usd/ton CIF previously)…
On December 2, President Trump issued an immediate imposition of duties on steel imported from Brazil and Argentina.
In early 2018, the USA imposed import duties on aluminum and steel under Section 232, but at this time Brazil and Argentina are not subject to tariffs but are entitled to import quotas.
Because of that quota, the volume of steel imported into the USA market from Brazil has increased, accounting for about US $ 2.6 billion, up more than 21% from the beginning of 2018 to the present time.
Similarly, Argentina’s import volume also increased sharply…..