GOES MMI: No Exemption Requests on Grain-Oriented Electrical Steel

Last month MetalMiner made the following statement: “The impact on Grain Oriented Electrical steel buying organizations, MetalMiner believes, will not exactly mirror the broader impact of the tariffs on commonly purchased steel forms, alloys and grades.”
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GOES Chart April 2018 FNL
We don’t always get it right but indeed, GOES M3 prices fell last month in comparison to across-the-board price increases for all or nearly all other carbon flat rolled product categories.
Meanwhile, although MetalMiner knows of one buying organization pursuing an exclusion request via the recently published exclusion process, no company has yet to file one (at least as of April 11). That will change as GOES imports continue to arrive.
This month import levels jumped, as did Japanese imports, in particular.

Source: MetalMiner analysis of ITC trade data

Of note, Chinese imports remain negligible (240 tons) and no imports came from South Korea.
What About the Section 301 Investigation?
A quick search revealed that the 301 investigation also includes grain-oriented electrical steel with HTS Codes: 72261110, 72261190, 72261910 and 72261990 — basically “alloy silicon electrical steel (grain-oriented) of various widths.”
However, the 301 investigation does not include either transformer parts (8504.90.9546) or wound cores (8504.90.9542), both of which could come into the U.S. under current prevailing market treatment.
MetalMiner will update readers when/if President Trump publishes a proclamation on the 301 investigation.
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Exact GOES Coil Price This Month
The U.S. grain-oriented electrical steel (GOES) coil price fell this month from $2,637/mt to $2,595/mt. The MMI value fell 3 points to 188.
The GOES MMI® collects and weights 1 global grain-oriented electrical steel price point to provide a unique view into price trends over a 30-day period. For more information on the GOES MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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