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Threats of the steel tariff of US President Donald Trump who are not moving for two weeks affect us customers who already see that metal metal costs more than imports.
The reference price of domestic steel has touched more than $ 900 per Toni this week, which is almost a quarter of this year this year, with a distinction of a immediate 25% charge on foreign supplies. This increase means that US prices have now crossed above the imported steel, according to people active in the market who have sought not to be appointed to discuss non -public information.
“What we see so far is that Mills use the tariff tariffs and the uncertainty of the tariff, and they have managed to increase the prices so that $ 900 per Toni is more than what would happen to the actual 25% tariff,” said Timna Tanners, an analyst from Wolfe Research, she said during a telephone interview. “This is not the desired outcome that Trump articulated.”
Metal shipments are poured into the US from all over the world, including burdens from Egypt, Algeria, Malaysia, Brazil and Vietnam, to the person familiar with the flows. The approach comes due to relatively anemic demand for steel steps, as high borrowing costs make customers progress with projects in everything, from construction to the production of the device.
Earlier this month, Trump has ordered 25% of steel and aluminum imports, and he announced that he would abolish all existing exemptions at the country level. The spectrum of the protectionist wall was strengthened by domestic steel producers such as Nucor Corp., Cleveland-Cliffs Inc., United States Steel Corp. and Steel Dynamics Inc. to increase prices.
Recently five weeks ago, Tona Steel was sold for less than $ 700. But by this week, local manufacturers have quoted the prices of their customers as much as $ 1,000, according to people who are familiar with the situation – levels they have not been seen since the beginning of 2024. The puzzle is that tariff threats have increased prices even if demand remains unchanged.
The domestic hot coil, a reference steel product, is 23% more expensive than imported supplies, published an update of steel researchers this week.
In the meantime, some Canadian and Mexican steel manufacturers tell customers to refuse new orders. The measures were set by Algoma Books of Steel Group Inc. Under “extreme pressure,” said Michael Garcia CEO.
