Final Thoughts

Final Thoughts

Written by John Packard


Just a quick note to let everyone know I will be in Tampa later this week for the Port of Tampa Steel Conference. I will be reporting on what I learned in Thursday evening’s edition of Steel Market Update.

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John Packard, Publisher

Latest in Final Thoughts

Final Thoughts

Even before the news about Mexico, I didn’t want to overstate the magnitude of the change in momentum. As far as we could tell, there hadn’t been a frenzy of new ordering following President Trump’s announcement of 50% Section 232 tariffs. But higher tariffs had unquestionably raised prices for imports, which typically provide the floor for domestic pricing. We’d heard, for example, that prices below $800 per short ton for hot-rolled (HR) coil were gone from the domestic market – even for larger buyers.