US

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Inconsistency in EU and US approaches will affect global climate efforts

The EU reached a preliminary agreement on CBAM in December 2022

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The USA reduced steel imports by 2% y/y in 2022

The import of finished steel products in the USA for the year increased by 10.9% y/y

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The US Department of Commerce has ordered a review of NLMK’s slab import requests

The agency should review the rejection of 58 requests for exemption from steel import duties

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European HRC producers are aiming for further price increases

The trends in the Chinese HRC market will be determined after the holiday period

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What will be the dynamics of the world economy in 2023

Analysts expect that in 2023 the economies of Asian countries will grow, while the USA and the Eurozone are threatened with recession

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The USA reduced steel imports by 17% m/m in November 2022

Imports of finished steel products in the USA for the month fell by 10.7% m/m

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The US is concerned about the EU’s cross-border carbon tariff

American lawmakers believe that the introduction of CBAM could become problematic for the United States

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The WTO recognized the US tariffs on steel and aluminum as unjustified

The United States does not intend to eliminate section 232 tariffs

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US and EU climate tariffs could hit China and other markets

In 2021, Chinese steelmakers exported more than 3 million tons of steel to the EU

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European steelmakers expect an increase in demand for HRC in early 2023

On the Asian and American markets, prices for hot-rolled coils increased

US and EU consider new climate tariffs on Chinese steel — Bloomberg

China accounts for more than 60% of world steel production

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