An analysis from Wood Mackenzie aluminum associate Xinlin Chen.

In tweets posted Dec. 2, 2019, President Trump announced that he will restore tariffs on steel and aluminum imported from the two countries. 

How steel and aluminum imports declined among the largest importers of tariffed steel and aluminum products in the states.

To say that the aluminium market has returned to ‘normality’ would be something of an understatement. The market remains far from ordinary and predictable.

Domestic steel production utilization dips below 80 percent for the first time in nearly a year. 

According to Majestic Steel's CORE Report, U.S. mills produced an estimated 1,847k tons of steel at a 79.4% utilization rate, a decrease from 1,851k tons and a 79.5% rate previously.

There is always a debate as to whether the time for a market bottom is now. These debates typically hinge on supply, demand, other factors. As the mills see it, the ancient proverb “there is no time like the present” sums up the situation perfectly. 

The White House announcement did not specifically mention the tariffs the White House enacted on steel and aluminum in March.

The Trump administration decision to levy stiff taxes on imports of steel and aluminum has many sheet metal contractors seeking to lessen the impact of an unexpected jolt to their businesses.

EU officials said the trading bloc is prepared to retaliate with its own tariffs on a variety of U.S. exports, including HVAC equipment, if a stay is not granted.