President Donald Trump announced on Thursday March 1 that he will impose tariffs of 25% on steel imports and 10% on aluminium imports into the United States for an unlimited time frame, following through on the aggressive action the White House has hinted at since the initiation of Section 232 investigations nearly a year ago.

While US domestic prices will almost certainly spike, the impact on the domestic downstream industry and global steel and aluminium trade flows is murky. Fastmarkets' reporters have been covering this topic from the start, with a warning way back in February 2017 that the use of Section 232 could backfire on the US president, and have been providing all the analysis you need to make informed business decisions ever since.

Latest on Section 232

Price change

(March 2017 - March 2018)

Chicago No. 1 heavy melt delivered consumer 

Domestic ERW line pipe X52 FOB mill

Seamless OCTG API 5CT - casing J55 FOB mill

Hot-rolled coil index US domestic FOB Midwest mill28.9% 
Steel reinforcing bar (rebar) domestic US FOB mill20.4%
Brazil export slab $ per tonne fob main port33.73% 
USA import pig iron $ per tonne cfr Gulf8.45%
China export hot rolled coil index, $ per tonne fob main port21%
China export rebar index, $ per tonne fob main port17.4%
China export cold rolled coil $ per tonne fob main port10.3%
China export galvanized coil (1mm) $ per tonne fob main port10.6%
China export wire rod (mesh quality) $ per tonne fob main port23.8%
Taiwan import ferrous scrap HMS 1&2 (80:20 mix) (USA material) $ per tonne cfr main port29%
South East Asia Import Hot rolled coil $ per tonne cfr (Vietnam)28.5%
Turkish import HMS 1&2 from North Europe24.6%
Turkish import HMS 1&2 from the USA24.7%
Turkish export rebar35.2%
Northern European domestic HRC2.7%
Aluminum P1020 premium delivered Midwest  0.9%
Aluminium P1020A, in-warehouse Rotterdam duty-unpaid, spot 3.1%
Aluminium P1020A, cif main Japanese ports, spot 4.5%