LF-BJMB
Steel prices on rise before tariff talks

Steel prices on rise before tariff talks

steel prices on rise before tariff talks

Prices of US-made steel and aluminum have been rising since US President Donald Trump said he would impose tariffs on the two metals, and the price increases may reflect other factors, industry observers said.
Earlier this month, Trump pressed ahead with import tariffs of 10 percent on aluminum and 25 percent for steel. He exempted Canada and Mexico and suggested he might exclude other allies.
Joseph Innace, content director for America's Metals at S&P Global Platts, said the price of US-made hot-rolled steel coil, considered a bench mark bellwether product, was at $852 per short ton on Friday.
"The price was $630 per short ton on Jan 20, 2017, which is the day Trump was inaugurated," Innace said in an interview on Monday.
While the 35 percent increase was driven in part by the expectation of tariffs within the industry, Innace said the main driver has been the fundamental demand factors that affect steel prices.
"Prices were on the rise before the tariffs. Construction, energy and autos have been strong for over a year now," Innace said, noting that those industries push demand for steel in the US.
Aluminum prices in the US have been increasing since the beginning of the year, according to Karen McwBeth, content director of metals pricing for S&P Global Platts.
Since Jan 2, McBeth said aluminum prices have jumped from about 9.5 cents per pound to 20 cents a pound on Friday.

Related News
  • Hesperia Tower--Glass Dome

    Hesperia Tower--Glass Dome

    November 21, 2017The Hesperia Tower is a hotel situated in the district of Bellvitge in L'Hospitalet de Llobregat (suburb of Barcelona), Catalonia, Spain.It has a tower of 29 storeys and 105 metres (344 ft).It was the...view
  • Bulk Storage Solution For Coal, Limestone, Clinker, Additive, Lignite, Iron Ore & Gypsum

    Bulk Storage Solution For Coal, Limestone, Clinker, Additive, Lignite, Iron Ore & Gypsum

    January 18, 2018Coal sheds are large in size and stores tons of coals. As for any thermal power plant, steel plant, cement plant etc where the boilers require the continuous supply of coal, the coal handling plants a...view
  • Guam Hopes To See A New 180MW Power Plant By 2021

    Guam Hopes To See A New 180MW Power Plant By 2021

    January 26, 2018HAGÅTÑA — The Guam Power Authority is hoping to see a new power plant built by 2021 to meet the increasing demands and replace the fast-aging units that will be retiring in four years.Utility offic...view
  • Spatial Structure1

    Spatial Structure1

    November 23, 2017Many applications require roofs or covers that are flat, or nearly flat. Spatial structure provide efficient solutions for these requirements. The most common Spatial Structure geometries are called "...view
  • Green And Water Boulevard

    Green And Water Boulevard

    November 21, 2017Along the main axis of Astana's administrative center is a pedestrian bridge, better as the "Green and Water Boulevard", brainchild of Kurokawa, the author of Astana's general plan.The Bridge is the o...view
  • WHY IT MATTERS TO YOU

    WHY IT MATTERS TO YOU

    November 23, 2017These homes are agile enough to go places, and their transparent designs can offer breathtaking views."When I am working on a problem, I never think about beauty … but when I have finished, if the so...view
  • TEL:+86 516 8595 0258
  • FAX:+86 516 8595 0278
  • Email:marketing01@cnxzlf.com
  • ADDRESS:222, Block B, Diamond International, Guozhuang Road, Xuzhou, Jiangsu, China