Steel Products Manufacturers NAICS 3312

Aug 21, 2025 - Industry Support for Tariffs

• President Trump’s 50% tariff on imported steel is proving popular with steel industry groups, five of which wrote to the president in July to voice support for the Section 232 steel tariffs and to oppose unwarranted exemptions, according to the American Institute of Steel Construction (AISC). Signatories included the American Iron and Steel Institute, Steel Manufacturers Association, Committee on Pipe and Tube Imports (CPTI), and the AISC. The world is awash in steel, with manufacturers continuing to produce more steel than the world can use. China, in particular, is flooding the market with cheap steel and steel products, undercutting prices for US companies. CPTI, the trade association for the US steel pipe and tube industry, says cheap pipe and tube imports have been harming domestic producers for decades, leading to lower revenues, job losses, plant closures, and missed opportunities for investment in new equipment and technologies.
• According to the latest quarterly Dallas Fed Energy Survey, more than a quarter (27%) of oil-and-gas companies active in Texas and adjacent territories plan to cut back on capital spending in 2026, reducing demand for steel pipe used in energy production. By comparison, nearly 40% expect spending on capex to rise next year. The survey of business leaders at exploration and development companies and oilfield services firms found the drop to be concentrated among large producers, with 75% saying they now expect to drill fewer wells this year than planned to at the start of 2025. By contrast, only 34% of leaders from smaller companies said they’ve scaled back their plans. The share of business leaders surveyed in the second-quarter who said they expect to trim capex in the next year was the highest since late 2023.

• The sudden doubling of tariffs on US steel imports from 25% to 50% in June, has steel traders facing a “nightmare” scenario, Fastmarkets reports. President Trump’s doubling of the import tariffs on June 4 has introduced significant uncertainty to the US steel market, with steel traders reporting disruptions to imports, paused domestic mill quotes, and concerns over potential price increases amid modest demand, according to Fastmarkets. Industry participants – including manufacturers of steel products – are having to assess how the additional costs will be absorbed across their supply chains. “Importers are scrambling right now, and customers who bought imports are also scrambling to ensure they have steel in the next 30-60 days,” a West Coast trader told Fastmarkets. While makers of steel products can avoid the steep tariffs by buying steel produced in the US, traders say they expect domestic mills to raise their prices.
• Producer prices for steel product manufacturers from purchased steel rose 4.9% in July compared to a year ago, after falling 9.3% in the previous July-versus-July annual comparison, according to the latest US Bureau of Labor Statistics data. Producer prices for makers of steel products have tumbled over 25% from their peak in May 2022, when high demand from key customer industries drove prices to new highs. However, prices have risen by 8.6% since February of this year. Industry employment, while flat year over year in June, is near historical highs. Meanwhile, average industry wages at primary metals manufacturers inched up 0.2% YoY in July to $29.22 per hour – also historically high – BLS data shows.