Chris Jackson, a steel market analyst at MEPS, noted that the 25% U.S. tariffs on steel imports could benefit steel mills in East Asia and China in particular.
"Most of the steel consumption sectors in these countries are performing weaker than expected. Few people expect demand to recover in the next 6-12 months. But [countries like Japan, South Korea, and Taiwan] are watching China very closely to see what happens there and see if it can serve as a catalyst [for increased demand] in the short and medium term," he said.
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Jackson also suggested that the universal imposition of 25% import duties in the United States could equalize the chances of exporters, providing a "tempting opportunity" for some steel producers from East Asia.
