Stainless Steel Market Reacts to Tariff Hikes

Via Metal Miner The Stainless Monthly Metals Index (MMI) moved sideways, rising by a modest 0.35% from May to June. However, the stainless steel price remains under pressure from several factors. Tariff Hike Rattles the U.S. Stainless Steel Market In a move few saw coming, President Trump doubled Section 232 tariffs on steel and aluminum imports from 25% to 50%. The duty increase took effect on June 4, just days after its announcement, leaving both suppliers and buyers with no real window to prepare.  The tariff increase proved controversial,…