Section 232’s On Hold, But Not Its Impact

Even though the Trump administration has postponed a decision on Section 232, the possibility of trade action that will further restrict steel imports is still influencing the market, according to comments from service centers, manufacturers and trading companies gathered in last week’s Steel Market Update Flat Roll Market Trends questionnaire.

Two-thirds of all steel buyers believe there will be a pick-up in foreign steel imports now that the Section 232 decision has been put on hold by President Trump. “Yes, yes, yes, there is zero doubt,” asserted one respondent. “It’s only a matter of time,” commented another. Most agree there is likely to be a lag in foreign orders until the fourth quarter as companies work down material purchased ahead of the originally anticipated Section 232 deadline.