Global steelmaker ArcelorMittal called for countries across the Americas to tighten steel import restrictions to protect their domestic industries.
ArcelorMittal said countries like Brazil, Canada and Mexico needed to toughen trade restrictions in line with US and European counterparts. The US increased its Section 232 tariff on imported steel to 50pc and extended the scope of the duties to derivative products in June 2025.
The EU implemented its Carbon Border Adjustment Mechanism (CBAM) on 1 January, imposing an additional tax on more carbon-intensive import products to ensure less carbon-intensive manufacturing on the continent is financially competitive.
The EU also proposed a new steel safeguard quota which ArcelorMittal projected will combine with CBAM to reduce steel imports to Europe by 10mn t compared with 2024 levels.
ArcelorMittal expected other governments to react to such a displacement with new trade restrictions of their own.
The company noted that Brazil, Canada and Mexico are considering new import restrictions to protect their domestic steel industries, but that progress could accelerate.
The hope for additional trade restrictions comes alongside various projects and returning capacity the company has planned across the Americas in 2026.
ArcelorMittal expects 2026 profits to be supported by higher prices in North America in the aftermath of tightened imports, coinciding with increased contributions from its 1.5mn t/yr electric arc furnace at its Calvert, Alabama, mill as it ramps up through 2026.
The mill started its first heat in June and expects to be fully operational by the end of 2026. But the company had no timelines on potential further expansions that were previously discussed.
Brazilian steel prices could also rise in the second quarter if new import restrictions are implemented. ArcelorMittal was nearing completion of a 4.5mn t/yr direct-reduced iron pellet project in Serra Azul, with the first shipments coming in February, and began commissioning a 400,000 t/yr steel sections and bar mill in Barra Mansa.
ArcelorMittal's Mexican operations, which collectively produce 1mn t/yr of long steel and 2.8mn t/yr of flat steel, are back on line after suffering outages in the fourth quarter. The long steel operations were back at the end of January, so it will only contribute for two months of the first quarter, while the flat steel production will contribute for the full quarter.
