Posted on 10 Dec 2024
Steel market participants indicated they are either increasing their inventories or refraining from distributor transactions because the cost of alternatives is expected to rise starting in 2025.
Reportedly, US domestic steel mills are preparing to raise prices once President-elect Donald Trump takes office, with plans to impose higher tariffs on traditional trade partners such as Mexico and Canada. These tariff measures have already led to a reduction in imports of flat-rolled steel into the US.
Distributors expressed limited concern over Trump’s tariff threats against Canada and Mexico, as they believed these countries would implement corresponding measures and solutions. However, they are supportive of tariffs on finished products from countries like China and Mexico.
Source:Yieh
