🧾 Steel Market Update (Date: June 2, 2025)

🌐 Global News:

Former U.S. President Donald Trump has announced a doubling of tariffs on steel and aluminum imports to 50%, effective from Wednesday.

• Objective: To prevent foreign mills from evading the current 25% tariff and to make the tariff “prohibitive.”

• Impact: According to the CEO of Flack Global Metals, this decision is likely to result in supply shortages and a sharp increase in prices.

• While some buyers could still source cheap imports under the 25% tariff, the new 50% rate will virtually eliminate that option.

• Steel producers are expected to raise prices immediately.

🇮🇳 Domestic Market (Mandi Update):

• Prices of ingots and old scrap witnessed an upward movement today.

• Improved spot trading activity has supported the market, especially in the finished steel segment.

• TMT bar prices have increased by ₹200–₹400/MT in key regions.