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The Effects of Metal Tariffs on Scrap Metal Recycling Prices

The Effects of Metal Tariffs on Scrap Metal Recycling Prices

One would think that if the cost of metal goes up due to tariffs, then the price of recycling metal would too. Despite prices, it is always a good thing to do for the environment.
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When is Hand-Forged, not really Hand-Forged?

When is Hand-Forged, not really Hand-Forged?

When is Hand-Forged, not really Hand-Forged?  We share some tips to discern if something is really hand-forged.
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Metal Industry Update – May 2019

Metal Industry Update – May 2019

The reports are in for 2018.

The US imported $74.8 billion of iron and steel. The People’s Republic of China topped the list of 156 global trade partners, with 20% of these imports, followed by Canada (13.9%) and Mexico (10.1%).


Tariffs on China were raised from 10% to 25% as of midnight 5/9/2019 on $250 Billion worth of goods & products. Not only does this affect iron and steel prices, it also affects finished goods.


IFNM is experiencing an increase in cost of 36% for new steel purchases. We believe that this is not only due to the tariffs, but also speculators in that market.


At IFNM, we use re-claimed metal as much as possible, which is also good for the environment.
 
Read more:

“US Iron and Steel Imports by Supplier Countries”; APRIL 24, 2019 BY DANIEL WORKMAN (Worlds top exports)  http://www.worldstopexports.com/us-iron-and-steel-imports-by-supplier-countries/

“Trump Ends China Trade Truce as Both Sides Plan More Tariffs”; May 9, 2019, 10:01 PM MDT Updated on May 10, 2019, 5:09 AM MDT by Shawn Donnan, Jennifer Jacobs and Kevin Hamlin (Bloomberg Economics)
https://www.bloomberg.com/news/articles/2019-05-10/u-s-hikes-tariffs-as-china-talks-are-poised-for-a-second-day

 

Photo courtesy of Pexels

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Metal Tariffs an Update for 2019

Metal Tariffs an Update for 2019

For IFNM, we have experienced a 25+ % increase in prices for metal,  which tends to fluctuate daily.  We share some information regarding the impacts of the tariffs dated January 14, 2019.
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