✖ Construction Reporter

Show Password Forgot Password?

Not a Member? Start a free-trial today!
Construction Reporter
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy

Steel Tariffs Continue to Plague Construction Industry

2/25/2021

0 Comments

 
Picture
An ongoing increase in prices has prompted a major industry group to call on President Biden to end the 25% tariff on steel imports.

In a letter to the President, the Coalition of American Metal Manufacturers and Users says that the tariffs on both steel and aluminum originally imposed in early 2018 by President Trump have “hurt small, family-owned manufacturers,” while also “fracturing relations with overseas trading partners.”

According to industry sources, the current price for hot rolled steel is just over $1,228 per short ton, the highest it has been in more than a decade.

At the same time, domestic steel prices have risen around 160% since August.

Compounding the problem is a decline in U.S. production first noticed in the beginning months of the pandemic. By late summer, capacity utilization had fallen to 56%.

While that figure has since increased to 75%, it is still short of the more abundant 82% recorded before the Covid outbreak.

In its letter to Biden asking for an end to both the 25% steel tariff and the 10% aluminum tariff, the Metal Manufacturers and Users group criticized the domestic steel industry for supporting the tariffs, noting: “Any misperceived advantage derived from the tariffs will be useless if their customers go out of business because of high steel prices and lack of supply.”

In moves to offset the costs of both imported steel and aluminum, some contractors have laid off workers and shortened the length of projects. Others have stipulated in their contracts contingencies for material cost increases.
​
Says the publication Construction Dive: “Contractors will need to stay on their toes so they don’t get caught on the wrong side of a cost crunch.”

​By Garry Boulard

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Get stories like these right to your inbox.
    ​Sign up for our newsletter

    Subscribe

    Archives

    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017

    Categories

    All

AFFILIATES

Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
HOME
PLANS & PRICING
FREE TRIAL
MAGAZINE​
BECOME A MEMBER
PRINTING SERVICES
FAQS
CONTACT
​ABOUT

TIMELY, RELIABLE NEWS SINCE 1949 ​Construction Reporter
​
4901 Mcleod Rd NE STE 200A
Albuquerque NM 87109


​Phone: (505)-243-9793
Toll Free: (877)-292-5793
​Fax: (505)-242-4758

Copyright © 2022 Construction Reporter
User Agreement   Privacy Policy   Archive Policy
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy