Domestic beam prices have risen in the United States after early June price hikes from Nucor and Gerdau, while import prices remain flat on a lack of market activity following the implementation of Section 232 tariffs against steel imports from Canada, Mexico and the European Union.
Prices for domestic W8-x8-inch beams are now $43.50 per hundredweight fob mill ($870 per ton), up 3.6% from American Metal Market's previous assessment on May 24 of $42 per cwt ($840 per ton). "It's capitalism in full force," the distributor said, adding that he doesn't think the market will drop yet. "Supply and demand and up she goes.""We're sitting right where the mills want us to," agreed...