Price Increases On Flat-Rolled Products
US hot-rolled coil pricing was flat as of January 29. More domestic mills have announced price increases on flat-rolled products. Also, lead times are averaging three to four weeks.
Will the domestic mill price increases continue?
Although some industry participants question whether the price increases will stick at this point, “domestic mills want to raise prices further and they will as soon as the momentum gets behind them,” says Adam Osborn, Ace Steel Supply.
Coalition Calls To Eliminate Tariffs
Over 45 groups from different US industries are requesting President Donald Trump stop Section 232 tariffs, for Canada and Mexico on steel and aluminum imports. Among the members are the National Tooling and Machining Association and the North American Die Casting Association.
On January 23, the group sent a letter to Wilbur Ross, US Commerce Department Secretary and Robert Lighthizer, US Trade Representative.
The coalition argues that without the tariffs, the US can gain more benefit from the US-Mexico-Canada-Agreement (USMCA).
Imported Steel And Aluminum
In addition, they argue that the metal tariffs are causing economic hardship for US companies dependent on imported steel and aluminum.
US, Mexico and Canada signed the USMCA on November 30. It is still waiting approval from all three countries’ legislatures; and would be in full effect 60 days after ratification.
We Offer A Stable Supply Of Steel
Ace Steel Supply works hard to read the steel market so we can offer a stable supply of what you need. Consider looking at a stocking program with us for even more benefits to your business.
When you are ready to save time, money and make your steel buying easier, give us a call.
Call us if your company requires a secure supply of stainless sheet, aluminum sheet, cold-rolled sheet or galvanized sheet metal.