All articles tagged with #steel
Amid an Israel-U.S. bombing campaign, Iran’s industrial base—most notably Mobarakeh and Khuzestan steel mills—was struck along with other facilities, killing one and injuring dozens; Tehran says the attacks threaten the civilian economy and vows retaliation, while officials note many targets are dual-use and report no radiation leaks at nuclear sites.
Two of Iran's largest steelmakers, Khouzestan Steel (KhSC) and Mobarakeh Steel (MSC), were hit by air strikes attributed to the U.S. and Israel, damaging storage silos and power infrastructure. Initial reports say blast furnaces 1 and 2 at KhSC were offline, while MSC suffered damage to a substation and power units. Production checks are ongoing with potential short-term outages, likely reducing Iran's billet and slab output and exports. The strikes follow a prior attack on Foolad Atieh, and Iran faces gas and power shortages, with officials signaling possible retaliatory actions against Gulf steel producers.
AP reports that tariffs under Trump have raised costs for U.S. manufacturers, causing higher prices, layoffs, and investment uncertainty, with examples like Allen Engineering showing losses; despite White House claims of progress, manufacturing has not rebounded broadly and some construction gains stem from Biden-era policies, while firms pursue tariff refunds and face ongoing policy uncertainty.
A Swedish company, SSAB, has developed a near-zero carbon steel called SSAB Zero using hydrogen-reduced iron and renewable energy, in collaboration with GE Vernova, marking a significant step towards decarbonizing the steel industry and supporting global sustainability goals.
The Trump Administration has expanded its 50% tariffs on imported steel and aluminum to include 407 categories of derivative products, notably affecting motorcycles and parts, which could lead to higher prices and increased complexity in trade and customs processes. The tariffs apply only to the steel and aluminum content in these products, but the implementation details are confusing and incomplete, impacting a wide range of goods and industries.
The US has implemented a 50% tariff on 407 categories of goods containing steel and aluminum, significantly increasing costs for importers and potentially impacting various industries like construction, automotive, and electronics, amid ongoing trade policy changes under President Trump.
The Trump administration has expanded its 50% tariffs on steel and aluminum to include over 400 additional product categories, affecting products like fire extinguishers, machinery, and construction materials, which could significantly impact trade and increase costs for domestic industries.
The US has expanded its Section 232 tariffs on steel and aluminum, now including hundreds of products such as household appliances, car parts, and trailers, with a 50% levy effective immediately, impacting imports worth over $320 billion and adding inflationary pressures.
U.S. President Donald Trump announced plans to implement tariffs on steel and semiconductor imports in the coming weeks, with initially lower rates that would increase over time to encourage domestic manufacturing, amidst ongoing trade policy shifts.
An explosion at the U.S. Steel Coke Works plant in Clairton, Pennsylvania, resulted in at least one death and dozens of injuries, with some individuals trapped under rubble. Emergency response is ongoing, and authorities are monitoring the situation and air quality. The plant is the largest coke manufacturing facility in the U.S., and the cause of the explosion is currently unknown.
President Trump signed an agreement to lower some tariffs on U.K. imports, including aerospace and auto sectors, as trade negotiations continue, but steel tariffs remain unchanged. The deal is a significant step amid ongoing efforts to establish broader trade agreements, with the U.S. also engaging with China, the EU, and Japan, though no comprehensive deals have been finalized yet.
President Trump's doubling of tariffs on steel and aluminum is causing short-term disruptions in the recycling industry in Pennsylvania, leading to increased costs and market uncertainty for businesses like Lincoln Recycling, with potential impacts on consumer prices and the broader economy.
US import costs for steel and aluminium are expected to increase by over $100 billion due to Donald Trump's recent tariff hikes to 50%, significantly impacting global trade, raising prices, and affecting industries and exporters in Canada, Mexico, South Korea, and Europe.
President Trump increased tariffs on steel and aluminum to 50%, aiming to support U.S. producers but raising costs for industries like construction, automotive, and food packaging, potentially leading to higher prices for consumers and challenges for domestic manufacturers.
The U.S. has doubled tariffs on steel and aluminum imports to 50%, aiming to protect domestic industries but causing international tensions and raising costs for American companies relying on these metals, with significant impacts on trade relations, especially with Canada and Europe.