Nucor May Be Crushed if Nippon Steel Can Lift Heavy Plate Tariffs

Japan 566 Materials - Metals/Mining 706 Metals - Steel 478 Mexico 833 Tariffs 1765

Japanese steelmakers including Nippon Steel will appeal a decision by the Mexican government to place tariffs on their exports of heavy steel plate. Mexican imports of steel plate from all countries reached $536 million in the 12 months to Mar. 31 after surging 30.4% year over year. Yet, imports from Japan were already de minimis having accounted for 25.8% of the total in 2017. Shippers from other countries that may lose out if Japan’s producers can regain access to the market are led by Nucor, which accounted for 21.4% of all imports after increasing its shipments by 35.1% year over yea...

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