Domestic mills hiked prices by $40 per ton
($2 per hundredweight) in March, prior to the implementation of Section 232 tariffs on March 23. Higher scrap prices and steady demand earlier this year also strengthened mill pricing power.
American Metal Market’s latest price for 2 x 2 x ¼-inch angles
came to $34.80 per cwt, in line with mill list prices and up from $32.80 per cwt, where the price had remained since late January
Merchant bar prices have risen by 16.78% since starting the year at $29.80 per cwt, logging gains after mills hiked prices by $30 per ton in January.
“The increase is sticking,” one northeastern distributor said. “I am seeing much less availability on [mill floor]...