Since June 21, the price of hot rolled coil in the Midwest has remained above US$1,000/ton (up from US$6/ton to US$1009/ton on July 10). This is the price of US steel, represented by hot rolled coil, has once again exceeded $1,000/ton since October 17, 2008.
For the reasons for the skyrocketing US steel prices, the industry believes that: First, the United States imposes a 25% high tariff on imported steel products; secondly, speculation has fueled US steel prices; finally, the US steel market is in strong demand in 2018. .
From the actual effect of the United States on the 25% high tariff on steel products, it hurts the exporting country's steel enterprises and undermines the global industrial division of labor; on the other hand, it also hurts the downstream users of US steel and reduces its Market competitiveness can be said to harm others. As US Secretary of Commerce Ross recently admitted at a hearing held by the US Senate Finance Committee, the price of steel in the US market has risen far beyond the reasonable price range transmitted by the Trump administration’s 25% tariff, indirectly The reality of the steel market has exceeded the expectations of the Trump administration to launch a trade war. The industry generally believes that if the United States further imposes high tariffs on automobile products, hundreds of billions of Chinese goods, etc., and continues to intensify economic and trade frictions, I am afraid there will be more cases beyond the expectations of the Trump administration.
www.sunrisesteelgroup.com