Rising tariffs and Mill prices Stun American Stainless Steel Buyers
The unexpected doubling of import duties on steel and aluminum in the United States, followed by the announcement by the country's largest stainless steel producer of a significant price increase, further unsettled the U.
S. market in June.
The US government's decision to double steel and aluminum imports, raising tariffs to 50% from June 3, which took effect immediately, caught many buyers off guard. The increase applies to all countries, with the exception of the United Kingdom, which maintained its 25% rate until July 9, the deadline for negotiations on a trade agreement with the United States.
Some buyers who had shipments in the United States were forced to review prices, without any exceptions or appeal procedures. Others were quick to cancel orders from their foreign suppliers. Several respondents told MEPs that the doubling of import tariffs under Article 232 made imports "practically impossible".
- This article first appeared in the June issue of the MEPS International Stainless Steel Review magazine. The publication provides information on market conditions, stainless steel prices, indices and forecasts in key markets in Europe, Asia and North America. Visit the website mepsinternational.com or contact the MEPs for detailed information on how to subscribe.
Market participants reported a wave of bankruptcy filings, especially among foreign auto parts manufacturers and metal distributors operating in the United States, citing growing financial strain caused by increased trade restrictions.
Domestic production orders remain low, despite expectations that higher tariffs will lead to a reduction in supply. For most standard-size rolls, the delivery time is short, ranging from four to five weeks. Buyers can afford to wait before making a purchase decision. Stocks are sufficient, and materials can be purchased from the warehouse at competitive prices. However, the growing uncertainty surrounding trade relations with the United States continues to reduce confidence and consumer activity.
NAS has announced a sharp price increase
On June 13, the North American Stainless (NAS) company, the country's largest stainless steel manufacturer, surprised customers by announcing an increase in supply prices from July 1, 2025. It stated that all new and current quotes are subject to change. Discounts apply to a wide range of hot-rolled and cold-rolled flat and long products of various brands, as well as some additional services
Functional discount on cold rolled rolls and 304 grade sheets is reduced by