The U.S. Commerce Department’s hearings regarding its “section 232” review of the steel industry, due May 24, come after significant declines in U.S. steel imports. These fell 35% in the 12 months to March 31 from their peak in February 2015. The decline was mostly due to a 59% cut in supplies from China, showing trade cases work. Yet, there has been a rebound more recently with a 41% rise in imports in the month of March, and a further 38% in April. That was mostly due to imports expanding from Russia and NAFTA. They may become targets once the review reaches its conclusions, which Pres...
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