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Scrapping of Tariffs May Help U.S. Scrap Steel Exports to Mexico

China 2820 Materials - Metals/Mining 689 Metals - Steel 470 Mexico 815 Tariffs 1741 U.S. 5046

U.S. scrap steel exports have reversed a 15.4% year over year expansion in 2018 with a 12.4% drop in 1Q 2019 as a result of the Trump administration’s tariff policies. Exports to China fell 93.8% in 1Q as a result of retaliation against section 301 tariffs as well as government policies to cut imports of waste products. Shipments to Mexico fell 35.8% due to retaliation against U.S. steel tariffs. The latter have now been removed as part of the U.S.-Mexico-Canada Agreement ratification process. Leading importers of scrap in Mexico include De Acero, which accounted for 31.6% of shipments i...

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