Economy
May 24, 2018
Steel Execs Expect No Price Correction
Written by Tim Triplett
What are the potential long-term implications of the Trump administration steel tariffs, in particular their effects on rerollers in the United States? Steel Market Update canvassed steel executives this week for their views on current market conditions, and the impact of the tariffs on pricing and availability clearly remains a source of concern.
“I buy a good amount of 1050 material from NLMK. I don’t think enough is being said about the importance of rerollers,” commented one Midwestern OEM. “If you take their tons out of the market, what effect it will have?” A few mills, especially on the West Coast, depend on imports of slabs from offshore. The outcome of the tariff exclusion process with the Commerce Department is of critical importance to them.
