The US Senate has reconvened following the Christmas holiday, but political observers say a wide gulf remains between Congress and President Donald Trump over re-funding the federal government, Kallanish reports.

The government was partially shut down 22 December following the failure of Congress to pass a funding bill that included $5 billion in funding for a steel border wall with Mexico. President Trump has said he will veto any funding bill that does not include money for a border wall.

Steel players note that the overall effect on the market thus far has been minimal. The Department of Commerce is not updating its import statistics, according to the American Iron and Steel Institute, but imports being processed normally and all tariffs still apply.

One Midwest flats buyer characterised the shutdown on Thursday as the capstone to a turbulent 2018.

“The shutdown does nothing for the steel industry, domestic or import,” he says. “Bring on 2019; it has to be better and more controlled than 2018.”