Navigating the steel market's new terrain: tariff impacts on global markets and US manufacturing

China’s electric vehicle (EV) and battery industry participants expect more uncertainty under a second Donald Trump presidency amid the president-elect’s intention to scale back the Inflation Reduction Act (IRA) and pursue expanded protectionist trade policies, sources told Fastmarkets on Thursday November 7

United States Antimony Corporation has been holding financing discussions with the United States Department of Defense (DoD) as it seeks to significantly expand the capacity of the country’s only antimony smelter, the company’s chairman and co-chief executive officer told Fastmarkets.

Watch this interview with Fastmarkets' in-house expert, Jennifer Coskren, director of wood products and timber, to learn more about the state of the US housing market and a look ahead to 2025.

Concerns over a potential decline in investments in the decarbonization of the steel industry are growing following the confirmation that Donald Trump will soon be returning as president of the United States, sources told Fastmarkets this week.

Fastmarkets proposes to discontinue its MB-STE-0423 Steel scrap shredded, index, delivered Midwest mill, $/gross ton; its MB-STE-0424 Steel scrap No1 heavy melt, index, delivered Midwest mill, $/gross ton and its MB-STE-0882 Steel scrap No1 busheling, indicator, delivered Midwest mill, $/gross ton, effective January 2025.

The publication of Fastmarkets’ MB-AL-0020 Aluminium P1020A premium, ddp Midwest US assessment for Wednesday November 13 was delayed due to reporter error. Fastmarkets’ pricing database has been updated.

It was already getting more difficult to source nickel qualified as compliant to the Inflation Reduction Act (IRA). Under a future Donald Trump administration, it’s likely to get harder still, in the short-term at least.

Fastmarkets advises that, as of Monday November 11, certain monthly North American ferrous scrap assessments are yet to settle.

Read a snippet of our weekly lumber report, analyzing how the US election and interest rate cuts have impacted prices.