Argentina agrees to steel export quota following US’ Section 232 investigation

The Argentinian government has agreed to quotas on steel products exported to the United States, thus avoiding tariffs associated with the US’ Section 232 investigation, according to national steel association Acero Argentino.

The country agreed to limit exports of steel products to the US to 180,000 tonnes per year, based on the average of steel exports during the past three years plus an additional 35%. Such exports will be exempt from a 25% tariff imposed on steel from several countries following the Section 232 investigation into US imports on national security grounds.

“It is a very positive outcome, as it will allow the country to maintain exports and production levels,” Acero Argentino executive director Carlos Alberto Vaccaro told Metal Bulletin on Wednesday May 2. “We are very satisfied with the negotiations.”

Although the quotas are not split by products, Argentina has been exporting mostly seamless tubes to the US, and this trend will continue, according to the association.

“The additional 35% was defined because steel exports in 2015 and 2016 were too low, influenced by the poor performance of the oil and gas sector,” Vaccaro said.

Last year, Argentina exported around 200,000 tonnes of seamless tubes to the US.

The US government announced that it reached agreements in principle with Argentina, Australia and Brazil with respect to steel and aluminium quotas, but it did not give further details.

What to read next
Following market feedback on the discrepancy between machine shop turnings and other ferrous scrap grades in the Houston dealer selling market, Fastmarkets proposes a realignment of the remaining grades in Houston, effective from the October 2022 monthly settlement.
Key talking points at Fastmarkets’ International Aluminium conference, held in Barcelona, Spain, on September 12-15
The publication of Fastmarkets’ inferred alumina index for Thursday September 15 was delayed due to a technical error
Fastmarkets is proposing a comprehensive update of its nickel scrap prices to bring them in line with its global price reporting agency standards.
Fastmarkets is proposing a comprehensive update of its stainless steel scrap prices to bring them in line with its global price reporting agency standards.
Fastmarkets is extending the consultation period for its proposal to change the publication frequency of nickel sulfate prices cif China, Japan and Korea to weekly from monthly.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed