Will steel continue to be governed by governments in 2020? The Chinese governments scrap and coking coal import policy has lead to higher domestic raw materials prices and steelmaking costs. With margins squeezed, Indian exporters have taken advantage. Indian finished steel exports grew 64% quarter-on-quarter. And the Indian governments Steel Import Monitoring System should support Indian steelmakers. No government policy has been more dynamic than the US this year. The latest tweet is of a 25% tariff to be imposed on imports of steel products from Argentina and Brazil. With Brazilian production highly leveraged to export markets such a policy will only compound the woes of Brazilian steelmakers – Brazilian output will fall 9% this year. EU steelmakers are having a torrid time with crude steel output down 3.6% year-to-October. Can the EC's "Green Deal" come to the rescue? And if so, when?