JPM Steel | Daily Despatch: Asian spreads +1%; US HRC lead times extend to 9 weeks

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JPM Steel | Daily Despatch: Asian spreads +1%; US HRC lead times extend to 9 weeks

ded in June amid strong export demand, but persistent weakness in domestic consumption threatened to

undermine steel demand and prices in the second half of 2026, China-based market participants told Platts. The Platts

manufacturing production index of steel consumption stood at 164 points for June, up 19 points from May and 25 points from

the year-ago levels. Source: Platts

• US Trade Representative eyes interim trade deals with Canada, Mexico by year-end: US Trade Representative Jamieson

Greer said he hopes to reach interim trade arrangements with Canada and Mexico by the end of the year as the US, Mexico,

and Canada renegotiate a free trade agreement. The USMCA is now subject to annual reviews after the US decided not to

renew the trade pact for a 16-year extension. Canada is a major supplier of steel, aluminum, lithium, natural gas, oil and

electric power to the US, while Mexico supplies silver and steel to the US. On July 20, the US imposed fresh new tariffs on

Canadian goods, but metals were largely excluded. Source: Platts

• Memory spot price update: DRAM spot market edges higher as branded DDR4 demand supports prices: The DRAM

spot market has seen a slight overall uptick this week, with inquiries largely focused on branded DDR4 chips. However,

transactions are generally limited due to suppliers’ reluctance to sell at perceived low prices and buyers’ hesitation to chase

higher prices. Source: TrendForce

• Indian giant Jindal makes its case for Whyalla, and for carbon tariffs: The Indian manufacturing conglomerate that is one

of two shortlisted to acquire the faltering Whyalla steelworks said the federal government should impose a tariff on imported