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Steel Market Barometer
Tariffs & Market Pricing Steel prices continue to be stable and have yet to react to the impending tariffs. Lack of demand and high inventories are keeping prices low for now. Steel stocks had rallied in early November as investors assumed a new Trump presidency would be better for the group than the outgoing Biden administration. Currently, the stocks now trade well below those levels.All indications are that the Trump administration will be imposing additional tariffs and q
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December 22, 2024, 10:13 pm
Steel Market Barometer November 2024
Port Strike The port strike in the United States ended in October 2024 after the International Longshoremen's Association (ILA) agreed to a tentative deal with the United States Maritime Alliance (USMX). The tentative agreement does not resolve differences between the union and shipping companies over the use of automated machinery, sources said. That will be a key focus of negotiations between both sides from now until January 15. This agreement affects many of the main ports that are used
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November 12, 2024, 10:11 pm
New Salt Lake City Location now Open!
Our NEW warehouse in Salt Lake City is OPEN! We are stocked and ready to bring the Service Metal way of doing business to industrial supply houses in the Western United States. With 1-2 day transit times within the region, we are excited to help new West Coast customers win jobs and provide service to local mechanical contractors.At Service Metal, your trust means everything to us. Over three generations, we’ve built a company where strong connections are at the heart of what we do. Whether it’s
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October 14, 2024, 10:07 pm
Import Steel Pipe Increase
Due
to a combination of factors, including rising raw material costs, increasing
ocean freight related to the unrest in the Middle East, higher container demand
ahead of the holiday season, and the possibility of multiple domestic port
closures due to pending labor
strikes, effective Monday, September 30th, United Pipe and Steel is
announcing an increase on import welded steel pipe of approximately
$100-$150/TON.
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September 23, 2024, 8:33 am
Domestic Steel Pipe Increase Tuesday
Domestic Steel Pipe mills have announced the below increases:
1/2” – 4” Continuous Weld Pipe by a minimum of $50/Ton
2” – 18” Grade B ERW Pipe by a minimum of $50/Ton
1” – 10” Sprinkler Pipe by a minimum of 5%We
will hold current price levels through 3:30 p.m. local time tomorrow, 8/30 and
release a new Domestic Steel Pipe list price sheet when we return from the
Labor Day Weekend holiday break on Tuesday, 9/3. Please submit your requests via the Quote button
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August 29, 2024, 8:51 am