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Trump Trade War - US Steel prices dip below pre-tariff levels

Steel News - Published on Thu, 10 Jan 2019

Image Source: NWI Times
Daily caller reported that the price of steel in the United States has fallen below levels prior to President Donald Trump’s announcement of a 25% tariff on imported steel in March 2018. According to S&P Global Platts, the price of steel jumped considerably after Trump announced the tariffs, rising to a peak of USD 920 per ton in July but since then, the price has fallen to USD 725 per ton, a 21% reduction, due to a slowdown in demand in China, which accounts for around half of global steel production and consumption.

Steel prices remain higher in the US than in China and Europe, where prices have dropped at similar rates since July, suggesting that the tariffs continue to impact domestic prices.

Source :

Posted By : Joykumar Irom on Thu, 10 Jan 2019
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