As you may have heard in the news the Trump Administration has announced tariffs of 25% on steel products and 10% on Aluminum products being imported in the US. This is in response to what is thought to be years of under valued material being flooded into the US market. This over production, mainly from China, has dampened steel prices world-wide and put domestic producers at a disadvantage in the market.
The tariffs will likely raise domestic finished steel pricing but may negatively affect scrap exports. If these tariffs signal a trade war on some level it would be likely to see costs of imported finished goods rise. The length of time that these tariff will be in place is not clear but if they prompt renegotiations between the US and it’s largest trading partners then the underlying goal has been achieved.
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