An Update on Pricing, Tariffs, ​​​​​​​and Lead Times

I want to inform you about a major shift in pricing for the US Cold Rolled (CR) steel market. CSC has gone 2 consecutive quarters with no price changes, but due to recent events, this is about to change. 

According to Steel Market Update, on March 12th, the reinstatement of Section 232 tariffs on steel reduced the premium US-produced CR coil had over imports. Before this, the spread between domestic and imported CR reached a 14-month high. With the tariffs back in place, that premium dropped almost overnight.

On March 11th, US CR coil averaged $1,115 per short ton, up from the prior week. Since late January, mills have raised prices by $220 per short ton, largely in response to anticipated tariffs. Despite this, the US CR premium over imports has now narrowed from 33.9% last week to 14%. That’s a $169 per short ton swing in just one week. For reference, in February the US CR coil averaged $930 per short ton.

Meanwhile, new country-specific tariffs are further impacting steel prices. As of February 4th, the US imposed a 25% tariff on steel imports from Canada and Mexico, while Chinese steel faces an additional 10% tariff. Canada retaliated with 25% tariffs on US steel exports starting March 13th, adding another layer of cost pressure.

Our Lead Times Have Been Reduced 

Fortunately, thanks to our Fall Action Plan going into full effect, our plant lead times have improved significantly, ensuring we can better support customer demand in this volatile market. ​​Our goal is to maintain 4-6 week lead times the entire year; barring a large influx of unforecasted orders. We still have some work to do; however, on average, our lead times right now are six weeks.

For Further Reading:

• Section 232 Tariff Updates: www.steelmarketupdate.com/2025/03/14/section-232-dampens-domestic-crc-price-gains/
• Market Impact of US Steel Tariffs: https://taxfoundation.org/research/all/federal/trump-tariffs-trade-war/