The study showed that tariffs have halted global consumption of stainless steel
According to a survey published by Outokumpu, one in three large stainless steel companies has postponed their orders due to international trade tensions caused by import duties in the United States
The stainless steel manufacturer interviewed 70 senior executives in companies with a combined annual revenue of about 430 billion US dollars and prepared a technical document "Evolution of materials: analysis of stainless steel 2025". When trying to assess the impact of tariffs on the stainless steel supply chain, it was found that more than half of the respondents are currently reviewing their supplier search strategies. Moreover, 30% of them have already changed suppliers in response to the change in trading conditions.
- This article first appeared in the September 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 members of the European Parliament for detailed information on how to sign up.
A September survey by the European Parliament showed that the sentiment of many stainless steel exporters in the United States, both in Europe and Asia, remains negative. The continued application of 50% tariffs under Section 232 remains an undesirable barrier to market entry for steel producers experiencing low demand in their domestic markets.
Halting the growth of stainless steel imports to the United States
Data released by the Office of International Trade shows that imports of stainless steel to the United States increased by 4.9% by the end of July compared to the same period last year and amounted to 629,366 tons. Preloading of orders has played a role in this trend. January's volume of 108,493 tons was the largest influx of stainless steel into the U.
S. market since June 2022, while March's volume of 102,261 tons was the second largest.
The rise in stainless steel prices in the United States at a time when prices in other markets were declining has softened the effect of tariffs and will last until the end of July. The lower limit of the price range of MEPs' deals in the United States for 316 cold-rolled steel has increased by 8.7% since March, when the Trump administration reinstated the full imposition of 25% tariffs under Section 232. In Taiwan, the largest source of imports from the United States, prices for the same product decreased by 9.7% in terms of local currency.
However, preliminary import data for August, published by the ITA, shows that the 50% duty is starting to have a significant impact. The data shows that sales volumes decreased by 21.5% year-on-year. A more significant decrease is indicated by the data on the issuance of