Latest news with #steelimports
Yahoo
4 days ago
- Business
- Yahoo
U.S. Construction Industry Squeezed by New Tariffs
Via Metal Miner The Construction MMI (Monthly Metals Index) moved sideways, dropping by 2.0% month-over-month. In early June 2025, new Trump tariffs doubled pre-existing steel and aluminum duties from 25% to 50%. As buyers scrambled, U.S. aluminum premiums immediately hit a record 60¢/lb. Meanwhile, the tariff surge is already squeezing the U.S. construction industry. Construction material costs continue to rise alongside mounting pressures from Trump tariffs. According to the Associated Builders and Contractors, March 2025 marked the third month of increased input prices in the U.S. Source: U.S. Bureau of Labor Statistics Steel saw the sharpest climb, with iron/steel and steel mill product prices increasing by more than 5% during the month. Other key materials like copper and lumber also experienced significant price jumps as tariffs further strained supply chains. As detailed in the official proclamation, the new 50% tariffs target virtually all steel and aluminum imports. The White House notes that most U.S. steel (26.2 million tons in 2024) is imported, so duties of this magnitude guarantee higher domestic prices. For metal buyers, it's critical to respond proactively. One recommended step is leveraging expert analysis: MetalMiner just published a free 'Comprehensive Guide to Steel & Aluminum Tariffs' that decodes the impact of these changes. That guide offers detailed scenarios and strategies so procurement teams can start planning how to mitigate the surging tariffs and protect margins. Looking ahead, demand for steel and aluminum should stay firm on active projects. However, cost pressure will slow some new work. In May, ABC reported U.S. construction backlog easing to 8.4 months (off a 2-year high). Meanwhile, nearly 25% of contractors have delayed or canceled projects due to tariff costs. Private-sector construction (especially homebuilding) will likely soften under these higher material costs, even as federal infrastructure spending holds up activity. Still, roughly 60% of contractors expect sales to rise over the next six months, fueled by work already in hand. Our view is that pipelines will keep moving this summer, but with tighter margins. Procurement teams should lock in supplies for critical materials now and explore alternatives (for example, expanded Canada/Mexico quotas or substituting specialty alloys). Data-driven sourcing is key. This means using live price charts and forecasts to compare contract bids against market trends. That way, you can negotiate smarter and avoid surprises. Beyond construction, the broader economy shows signs of cooling. U.S. manufacturing contracted for a third straight month in May (ISM PMI 48.5), with many survey respondents explicitly flagging steel and aluminum cost shocks. Meanwhile, delivery times are lengthening as suppliers adjust to the uncertainty. In this environment, information is critical. By The MetalMiner Team More Top Reads From this article on Sign in to access your portfolio
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Why Cleveland-Cliffs Stock Just Dropped
Cleveland-Cliffs (NYSE: CLF) stock fell 8.5% through 2:10 p.m. ET Tuesday after Reuters reported on new trade negotiations between the U.S. and Mexico that could significantly roll back 50% tariffs on steel imports -- which had themselves been announced only last week. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » 50% -- up to a point The negotiations would not affect all steel imports -- only those from Mexico, and only to an extent. While details haven't yet been made public, Reuters reports the idea will be to permit a certain quota or specified volume of steel to come into the U.S. from Mexico duty free, or at a reduced tariffs rate. Imports in excess of that quota or volume limit would still pay the 50% tariff. And of course, the 50% tariff will remain in place for imported steel from other countries. Is Cleveland-Cliffs stock a sell? Just the rumor of the creation of this single Mexican loophole, though, seems to have shaken investors' confidence that Cleveland-Cliffs stock is a sure thing -- and no wonder. After all, if tariffs can be renegotiated lower with one country, they can be renegotiated lower with other countries as well -- or even lowered back down to previous levels with entire regions (such as the E.U. or North America), or with the world as a whole. That would be bad news for Cleveland-Cliffs investors, who've been counting on tariff policy to help turn their company profitable again, after losing $754 million a year. At the same time, the company has to worry about domestic competition from a U.S. Steel that will soon be backed by money from Japan's Nippon Steel. It's a good reminder for investors: If you're counting on a change in government policy to save your stock, you may be setting yourself up for a fall. Should you invest $1,000 in Cleveland-Cliffs right now? Before you buy stock in Cleveland-Cliffs, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cleveland-Cliffs wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $649,102!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $882,344!* Now, it's worth noting Stock Advisor 's total average return is996% — a market-crushing outperformance compared to174%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
Bloomberg
10-06-2025
- Business
- Bloomberg
Bloomberg Businessweek Daily: Steel Deal Near
Watch Carol and Tim LIVE every day on YouTube: The US and Mexico are closing in on a deal that would remove President Donald Trump's 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term. Trump hasn't been directly involved in the negotiations and would need to sign off on any deal. The talks are being led by Commerce Secretary Howard Lutnick, according to the people, who asked not to be identified as the discussions are private. The people said the agreement hasn't been finalized. Under its current terms, it would allow US buyers to import Mexican steel duty-free as long as they kept total shipments below a level based on historical trade volumes, according to the people. The new cap would be higher than what was allowed under a similar deal during Trump's first term, they said, which was never a fixed figure but designed to 'prevent surges.' The White House didn't immediately respond to a request for comment. Mexican President Claudia Sheinbaum's office also didn't respond to a request for comment. Today's show features: Bloomberg News Economic Statecraft Reporter Joe Deaux Bloomberg News National Team Managing Editor Sarah McGregor on rising social unrest in Los Angeles Jeetu Patel, President and Chief Product Officer at Cisco Fran Katsoudas, Executive Vice President and Chief People, Policy & Purpose Officer at Cisco
Bloomberg
10-06-2025
- Business
- Bloomberg
US, Mexico Near Deal to Cut Steel Duties and Cap Imports
The US and Mexico are closing in on a deal that would remove President Donald Trump's 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term. Trump hasn't been directly involved in the negotiations and would need to sign off on any deal. The talks are being led by Commerce Secretary Howard Lutnick, according to the people, who asked not to be identified as the discussions are private. (Source: Bloomberg)
Bloomberg
10-06-2025
- Business
- Bloomberg
US and Mexico Near Deal to Cut Steel Duties and Cap Imports
The US and Mexico are closing in on a deal that would remove President Donald Trump's 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term. Trump hasn't been directly involved in the negotiations and would need to sign off on any deal. The talks are being led by Commerce Secretary Howard Lutnick, according to the people, who asked not to be identified as the discussions are private.
