1. U.S. Steel Tariffs Jump to 50%, Triggering Global Backlash
Policy Change: Effective June 4, 2025, the U.S. raised steel and aluminum import tariffs from 25% to 50%, excluding the UK (temporarily held at 25% until July 9)35.
Impact:
Canadian steel exports to the U.S. dropped sharply, with 6.5 million tonnes affected and 1,000+ job losses reported6.
EU & Mexico threatened countermeasures, while Germany warned of supply chain disruptions710.
Market Reaction: U.S. Midwest aluminum premiums surged 54% to $0.58/lb, the highest since 20134.
2. Southeast Asia's Largest Green Steel Project Launched in Malaysia
Project Scale: The $7.3 billion Esteel Sabah initiative will produce 7.5 million tons/year of hot briquetted iron (HBI) by Phase 3, cutting emissions by 70% using natural gas instead of coke2.
Significance: Aims to transform Sabah into a regional hub for low-carbon steel, creating jobs and attracting green-tech investment.
3. U.S. Steel Price Volatility Amid Tariff Uncertainty
Price Trends:
Hot-rolled coil (HRC): Stabilized at $840–847/ton in early June after a May slump1.
Nucor's spot price: Rose $20/ton to $890/ton post-tariff announcement1.
Lead Times: HRC orders now take 4–8 weeks, while seamless tubing faces 10–12-week delays due to import slowdowns1.
