Published by:Alesha Alkaff<>
2 Jul 2025 @ 20:10 UTC

Prices for imported hot-rolled coil into the US edged down on Wednesday, July 2, with sources reporting minimal activity among importers, mostly led by the 50% steel tariffs slapped on inflows. Fastmarkets’ fortnightly assessment for steel hot-rolled coil, import, ddp Port of Houston was $830-900 per short ton ($41.50-45.00 per hundredweight) on Wednesday, slightly down from $850-920 per ton in the previous assessment.
A trader told me they have nothing going on. Most of the offshore mills haven’t even submitted their offers, a distributor said.
Lead times for imported HRC are as far out as October, sources said.
There are so many factors in play right now, trade deals, tariffs, so nobody’s really participating [in the imports market], the distributor added. It’s hard to keep up, everything moves so fast. People are just hesitant to do anything.
Market participants are also tracking ongoing developments between the US and its trading partners.
US President Donald Trump struck a trade deal with Vietnam that includes a 20% tariff on the country’s imports to the US, Trump said on Wednesday in a social media post.
The Terms are that Vietnam will pay the United States a 20% Tariff on any and all goods sent into our Territory, and a 40% Tariff on any Transshipping [sic], the president posted online.
Despite the reported agreement, it was unclear when the deal will take effect, or if it has been formally signed by both countries.
In May, Vietnam exported 88,392 tonnes of steel to the US, down by 34.17% from 134,268 tonnes exported in May 2024, data from the International Trade Administration (ITA) showed.
Meanwhile, trade talks with Canada are seemingly back on, after the nation rescinded its plan to impose a digital services tax (DST) on US companies on Sunday, June 29, just two days after Trump said he was terminating trade talks with Canada on a social media post on Friday.
Canada’s new government is engaged in complex negotiations on a new economic and security partnership with the US, focused on getting the best deal for Canadian workers and businesses, Canada’s Finance Minister François-Philippe Champagne said in a June 29 statement.
Prime Minister Carney and President Trump have agreed that parties will resume negotiations with a view towards agreeing on a deal by July 21, 2025, the minister added.
In May, the volume of US imports of carbon and alloy steel from Canada fell to its lowest level in almost five years, ITA data showed.
Import CRC, HDG Fastmarkets’ fortnightly assessment for steel cold-rolled coil, import, ddp Houston was flat at $1,030-1,060 per ton ($51.50-53.00 per cwt).
The fortnightly assessment for steel hot-dipped galvanized 0.012-inch G30, ddp Houston was stable at $1,240-1,280 per ton on Wednesday.
Import, domestic plate prices Fastmarkets’ assessment for steel medium plate, import, ddp Houston was steady at $840-920 per ton on Wednesday.
“We have not contacted the import [plate] mills or traders due to the ever-changing tariffs, a steel buyer said.
Similarly, plate prices in the domestic market were stable on Tuesday July 1, amid weak demand and minimal spot activity in a mostly stagnant market.
Fastmarkets’ weekly assessment for steel cut-to-length plate carbon grade, fob mill US was $56 per cwt on Tuesday, unchanged since decreasing by 1.75% on May 20 from $57 per cwt on May 13.