Delays to US Section 232 probe drive steel imports surge, Nucor ceo says

The US steel industry has been hammered by a surge of imports that can be blamed directly on the Trump administration’s delayed Section 232 investigation into foreign steel, the senior executive with Nucor has said.

“[Foreign steelmakers] are looking to get every ton in [to the USA] that they can get in before we go to the [Section] 232 [remedies],” Nucor chairman, president and ceo John Ferriola said during an earnings conference call on Thursday October 19. Section 232 allows the US president to impose sanctions against any imported materials thought to pose a threat to national security. “I am not surprised to see this surge [in import volumes],” Ferriola said. “I think it’s a direct result of the commitment that was made by the president early...

Published

Michael Cowden

October 19, 2017

22:28 GMT