Podcast: Speaking of Steel US Election Special

A US Election Special episode of MEPS’s Speaking of Steel podcast series delivers insight into the effect of Donald Trump’s re-election on the United States steel market.

Considering how the 47th US President’s policies might influence steel supply, demand and prices in the near and medium term are MEPS’s US steel market consultant Laura Hodges and steel market analysts Jon Carruthers-Green, Michelle Kirton and Stuart Gray.  

Hosted by MEPS’s managing editor, Tom Sharpe, episode 11 of the Speaking of Steel podcast provides answers to the following questions: 

• How is the US steel market currently performing and what are MEPS’s research partners’ post-election expectations? 
• Trump’s tariffs – What effect will an increase in trade protection measures have on imports, US steel supply and prices?
• Winners and losers – Which steel consuming sectors are likely to benefit, or lose out, under the new Trump administration?
• Unresolved issues – How will the election of Donald Trump effect Nippon Steel’s takeover of US Steel? 

Listen to the US Election Special episode, via your chosen podcast provider, by clicking the links below: 

YouTube: https://www.youtube.com/watch?v=HSoAZxSwd08

Spotify: https://podcasters.spotify.com/pod/show/meps-international/episodes/11--US-Election-Special-e2qnqae

Apple Podcasts: https://podcasts.apple.com/us/podcast/11-us-election-special/id1756464954?i=1000676472024

Earlier this week MEPS reported on its US research partners’ hopes that a revival of President Trump’s “America First” economic approach would drive increased steel demand. 

The latest Speaking of Steel podcast episode heard that many market participants felt pre-election uncertainty had stalled the US steel market in recent months. In October, MEPS’s US hot rolled coil price was 33% down on its January peak. 

Although the outlook for steel demand remains uncertain, Hodges said that an end to that uncertainty would introduce an upside risk to MEPS’s US steel price forecast. 

“The election uncertainty has really been hamstringing markets and we heard that echoed in the quarterly financial results from US steel producers”, said Hodges. 

“What does the Trump presidency mean for steel markets? There’s [still] uncertainty – there are campaign promises and then there’s the reality – but I do think that the Trump presidency delivers an upside price risk to US steel price forecasts in the near term, primarily due to protectionism. 

“US stock markets confirmed that feeling. Overall stock market indices increased by 2-3%.  The steel market producers, Nucor, Steel Dynamics, US Steel and Cleveland-Cliffs all increased by double digits. Cleveland-Cliffs stock price increased by 20% [on the day of the election result].” 

• Regular insight from the United States steel market is featured in MEPS's International Steel Review. The monthly report features steel prices, price indices, market commentaries and forecasts. Contact MEPS for details of how to subscribe.