Steel Pricing is looking pretty volatile these days and it’s affecting everyone!
From the Wall Street Journal
Trump administration officials are pushing back against overseas officials opposed to planned steel and aluminum tariffs and U.S. executives who warn the move could undermine a strengthening American economy.
Manufacturing executives who use the metals to make beer cans, cars, refrigerators and other goods warn of price surges, shortages and retaliatory trade barriers on U.S. exports if the administration follows through on the plan, announced Thursday, to impose 25% tariffs on imported steel and 10% duties on aluminum imports. They also complain that a lack of detail about President Donald Trump’s plan has injected unknowns into their business planning.
House Speaker Paul Ryan broke with President Donald Trump over his decision to impose tariffs on imported aluminum and steel products, setting the stage for a high-profile policy fight between Republican leaders and the White House.
What does this mean for you?
The cost of your building may go up substantially.
Steel mills have continued to announce increases since the beginning of the year. Additionally, President Trump announced his intent to implement Section 232 tariffs of 25% on imported steel. We anticipate that steel prices will continue to rise, and further increases could materialize in as few as 30-45 days. Fabricated Steel Building pricing may see a whopping 7-15% increase in the coming months. The supply and demand on raw materials will create a ripple effect on manufactured goods, including steel building materials. Simply put, the cost of your building will go up substantially.
We’re looking out for you!
Lock in pricing! Get your building into production NOW!
Allied’s #1 and only objective is to ensure your project budget doesn’t balloon based on these pending tariffs. If you have a pending order, an outstanding proposal, or simply plan on building in 2018, call your Allied rep today so that we can show you how to avoid these significant and unnecessary cost increases, but act now, don’t wait any longer, the situation could only get more and more sensitive.
If you have any questions regarding this announcement, please Contact your Allied rep today!