Steel Most Protected in Years as Trump Readies Lifeline

As President Trump prepares to stop cheap steel imports from “killing our companies,” U.S. prices of the metal are near three-year highs and Chinese shipments have slowed to 2011 levels after a series of anti-dumping measures undertaken by the Obama administration. Any progress in coming weeks from a new U.S. probe into the national-security implications of metal imports would add further tightness. “The first rounds of tariffs have already driven the Chinese from the market, while additional levels of tariffs, quotas or a combination of the two would only further reduce import supply and tighten the market some more,” said Aldo Mazzaferro, an analyst at Macquarie.

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