Global MFG - Jul 15, 2021
Steel Cheers US Court Ruling on Section 232
Steelmakers in the United States applauded a ruling by the US Court of Appeals for the Federal Circuit that confirmed the US President can boost Section 232 tariffs long after they were first implemented.
In the two-to-one decision on Tuesday July 13, the three-judge panel overturned a US Court of International Trade (CIT) ruling that put a time limit on presidential tariff authority under Section 232.
amm.com #steel #tariff
Global MFG - Jun 28, 2021
Steel Going Into Biden’s Infrastructure Plan Reaches Record
A key steel product used in construction and automobiles reached a record Monday as U.S. President Joe Biden pushes ahead with his infrastructure spending plans.
Hot-rolled coil for July delivery rose 0.7% to $1,800 a short ton in New York, an all-time high, extending gains since the president secured a $579 billion bipartisan infrastructure deal on Thursday. Prices have more than tripled in a year.
Yvonne Yue Li | Bloomberg.com #automotive #steel