SMU Data and Models
March 21, 2018
SMU Market Trends: Will You Continue to Buy Foreign Steel?
Written by Tim Triplett
The market is waiting anxiously to see how the Trump administration’s Section 232 tariff will affect steel imports, and in turn steel prices. The 25 percent tariff takes effect on Friday. If Steel Market Update’s latest sample of reader opinion is any indication, the volume of imports into the United States may not moderate as much as many expect. More than eight out of 10 (83 percent) of import buyers responding to SMU’s market trends questionnaire this week say they will continue to buy foreign steel despite Trump’s tariff.
As many respondents commented, it’s a question of product availability and how much domestic mills dare to raise their prices:
