Japan imposes 15 percent levies on US Steel in a retaliatory measure. Just what does this mean for Schnitzer's future and the price of steel. Good or bad?
It is almost meaningless. Minimal tons are exported to Japan. Japan makes more steel then it can use and is a net exporter.
A small % of steel produced in the U.S. is exported.The fact scrap prices are up sharply for August while new steel pricing is relatively flat is more significant.
Probably not much impact.