Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
Shares of Cleveland-Cliffs (NYSE: CLF) dropped nearly 7% this week as the U.S. and Mexico moved closer to a deal that could ease longstanding steel tariffs. The proposed agreement would allow a fixed volume of Mexican steel to enter the U.S. either duty-free or at reduced rates, with tariffs reimposed on shipments exceeding the quota.
This potential policy shift rattled the U.S. steel sector. Investors reacted swiftly—Cleveland-Cliffs fell around 6.5%, Nucor lost about 4%, and U.S. Steel declined slightly. The changes could weaken the protective tariff structure that has supported U.S. producers since the Trump administration.
Mexico, currently the third-largest exporter of steel to the U.S., stands to benefit under the proposed cap-and-quota system. However, industry stakeholders are voicing concerns over possible loopholes that might allow steel from other countries to enter the U.S. through Mexico.
While the agreement has yet to be finalized, the market impact is already being felt, prompting a fresh look at tariff-sensitive industrial stocks.
Also Read : Microsoft claims Russian state-sponsored hackers spied on its executives Oil prices rise amid Middle East tensions and Ukrainian drone strikes
India plans to protest the European Union's proposed carbon tax on imports of steel, iron ore and ce...
Business 08-Feb-2024
Marcegaglia and Danieli have joined hands for a major low-carbon steelmaking project in Fos-su...
Europe 16-Apr-2026
Union Minister Dr Jitendra Singh has disclosed that India's nuclear power capacity is set for a rema...
Press Releases 07-Feb-2024
In order to grow mining operations and build power plants around the country, the Singareni Collieri...
Notification 22-May-2024
Australian coking coal quotations (FOB Australia) fell slightly in May 2024 by $1/t – to $242/...
Ferrous 12-Jun-2024
In response to a written question in the Lok Sabha on February 8, 2024, R K Singh said that India wo...
Renewables 09-Feb-2024