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
  • Soviet-Time Polar Ice Camp Restored To Become A Museum

    Soviet-Time Polar Ice Camp Restored To Become A Museum

    January 18, 2018ST. PETERSBURG - ARKHANGELSK, January 15. /TASS/. St. Peters burg's historians within four years will restore and then turn into a museum of the Arctic's development an aircraft hangar at the Tikhaya ...view
  • Construction machinery in huge demand

    Construction machinery in huge demand

    September 4, 2018Production executives such as Pu Mingju of Sany Heavy Industry Co Ltd are a busy lot these days as China's construction machinery sector, which makes heavy equipment like concrete pumps, excavators an...view
  • British RAF Opens New £70m Hangar For Atlas Aircraft

    British RAF Opens New £70m Hangar For Atlas Aircraft

    February 9, 2018The British Royal Air Force (RAF) has officially opened its new £70m hangar to accommodate the new Atlas transport aircraft at RAF Brize Norton air station in the UK.Designed to accommodate three of ...view
  • Hangar Spatial Structure System

    Hangar Spatial Structure System

    November 21, 2017The hangar is the main building of the aircraft maintenance area. According to different requirements of aircraft maintenance and maintenance project, layout, building height, the structure form of ha...view
  • Lakeland’S Newest Hangar Filled With Firefighting Bubbles

    Lakeland’S Newest Hangar Filled With Firefighting Bubbles

    November 21, 2017Lakeland Linder Regional Airport's newest hangar was filled with roughly 700,000 cubic feet of foam Tuesday, giving city fire inspectors a reasonable expectation that a burning aircraft won't become a...view
  • Chinese New Year

    Chinese New Year

    November 20, 2017Chinese New Year, known in modern Chinese as the "Spring Festival" (simplified Chinese 春节; traditional Chinese 春節; Pinyin: Chūn Jié), is an important Chinese festival celebrated at the turn of t...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

[QUERYS RESOURCE ID #57]

Total quantity:896, Total process time:0.26820540 ms

[FILES LOADED]

Total quantity:22

Use Memory: 11.9MB

Time-consuming: 0.47482 ms