U.S. Companies Feel the Pain From Surging Metal Prices
- Harley-Davidson, GM, Whirlpool, Alcoa cite effects of tariffs
- Steel prices surge more than 40%; Aluminum premiums double
This article is for subscribers only.
U.S. tariffs on metal imports are playing havoc with earnings at some of the most recognizable industrial companies in America, and a look at steel and aluminum prices shows why.
Surging demand and a 25 percent U.S. tariff have combined to send the benchmark domestic steel price surging more than 40 percent this year. Premiums added to the price of aluminum for delivery in the U.S. Midwest have more than doubled this year. In March, the U.S. announced a 10 percent tariff on imports of the metal.