This attack and subsequent production outage caused the largest, one-day, oil price surge since 1991. As of this writing, crude oil pricing is at $60.43, up 10.17 percent from Friday. This is the highest crude has been since May. 

Current expectations from the domestic scrap market is for pricing to slide $10-$20/gt and give back most, if not all, of August’s increase.

Paul Nathanson, executive director for the Coalition of American Metal Manufacturers and Users, explains why the Section 232 steel tariffs were a futile effort to save domestic steel.

In a memo, a US Steel plant in Michigan says recently announced layoffs are expected to be temporary, not permanent. However, layoffs are likely to continue "periodically."

Current domestic flat-rolled steel pricing remains below domestic mill published pricing, signaling room for further growth.

According to the Wall Street Journal, JSW Steel USA is suing the Trump Commerce Department for being denied exclusions from steel tariffs.

U.S. mills produced an estimated 1,872k tons at an 80.4 percent utilization rate, according to information from Majestic Steel. This is up from 1,867k tons and an 80.2 percent rate previously.

Domestic steel production utilization dips below 80 percent for the first time in nearly a year. 

A United Steelworker representative says about 80 to 100 of its members at Pennsylvania's NLMK Farrell steel plant were laid off because of steel tariffs.

Today President Trump signed an executive order mandating greater use of U.S.-made steel and iron in federal infrastructure projects.