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

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.

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.

There is always a debate as to whether the time for a market bottom is now. These debates typically hinge on supply, demand, other factors. As the mills see it, the ancient proverb “there is no time like the present” sums up the situation perfectly. 

The current uncertainties surrounding the domestic steel market have caused a “buyers' strike,” which has pushed domestic flat-rolled steel prices to their lowest levels since Q4 2016.

The Coalition of American Metal Manufacturers and Users (CAMMU), issues a statement on the one year anniversary of the full implementation of the Section 232 tariffs on steel and aluminum imports.

In a statment released on Friday, May 17, the Coalition of American Metal Manufacturers and Users urges President Trump to terminate the remaining steel and aluminum tariffs. 

Read the joint statement by U.S. and Canada on Section 232 Duties on steel and aluminum.

Trump has increased tariffs on $200 billion of Chinese goods to 25 percent, impacting a number of metals.

President Trump has increased tariffs on $200 billion in Chinese imports.