【SMM Steel】The US Department of Commerce issued a final determination in its countervailing duty administrative review, finding that POSCO Co., Ltd. received countervailable subsidies on carbon and alloy steel cut-to-length plate exports to the US during the January 1, 2023 to December 31, 2023 review period, with a final subsidy rate of 3.70%. The rate applies to POSCO's cross-owned entities and its affiliated trading company POSCO International. The determination comes as the US Court of International Trade has remanded certain key issues, requiring Commerce to provide better substantiation on electricity pricing benchmarks and whether carbon allowances constitute "financial contributions". US steelmaker Nucor has appealed the trade court's ruling.

[SMM Steel] Hyundai Steel and POSCO’s US joint venture awarded SMS Group a contract to supply rolling mill equipment for its new greenfield steel plant in Louisiana. The project includes a hot strip mill, pickling line tandem cold mill, acid regeneration plant, and AMOVA logistics systems. The plant is scheduled to start operations in 2029 with total steel product capacity of 2.8 million mt. The facility will focus on high-grade automotive steel, with annual cold rolled coil output expected to reach nearly 2 million mt.

According to US Department of Commerce data, the United States imported 2.45 million net tons (nt) of steel in March 2026, a 5.3% increase from February. Finished steel imports surged by 15.4% month-on-month to 1.94 million nt, accounting for an estimated 22% of the domestic market share. Total imports for the first quarter of 2026 reached 7.07 million nt, up 2.7% compared to the same period in 2025. Significant increases were seen in imports of oil country tubular goods (+55%) and line pipe (+49%). The influx of finished products, particularly from South Korea and Brazil, increases competitive pressure on domestic US mills and may limit the upside for local spot prices despite seasonal demand recovery.

US steel exports totaled 611,043 net tons (nt) in March 2026, reflecting a 6% increase from February but a 2.1% decrease compared to March 2025. For the first quarter of 2026, total exports reached 1.76 million nt, down 3.8% year-on-year. Canada remained the largest destination with 294,625 nt (+5% from Feb), followed by Mexico with 222,086 nt (+1% from Feb). The monthly rebound suggests a modest recovery in cross-border manufacturing demand within North America, yet the overall quarterly decline highlights a softening in international appetite for US-produced steel amid high domestic price premiums compared to global benchmarks.

[SMM Steel] The American Iron and Steel Institute (AISI) urged the USTR to impose cumulative tariffs under the Section 301 investigation targeting economies linked to global steel overcapacity. AISI highlighted record Chinese steel exports of 131 million mt in 2025 and rising shipments from India, Indonesia, South Korea, Japan, and Mexico. The institute argued that subsidized exports and redirected trade flows are pressuring the US steel market. If approved, additional Section 301 tariffs could be added on top of existing Section 232 duties, potentially lifting total US steel tariffs on some countries to 60-75%.

[SMM Steel] Hyundai-POSCO Louisiana Steel LLC appointed Danieli to supply equipment for a new integrated steel plant in the US focused on low-carbon automotive steel production. The project includes a 2.5 million tpy ENERGIRON® DRI plant designed for hydrogen use and carbon capture, along with two electric arc furnaces capable of producing 2.88 million tpy. Danieli will also provide slab casters, secondary metallurgy systems, and reheating furnaces compatible with natural gas and hydrogen blends to support future decarbonization targets.