Dear valued customers,
We wanted to alert you to a recent development in the steel industry.
On Friday, February 16th, Secretary Wilbur Ross released the U.S. Department of Commerce report detailing the impact to our national security from imports of steel mill products. This investigation was carried out under Section 232 of the Trade Expansion Act of 1962. The Department of Commerce found that the quantities and circumstances of steel imports “threaten to impair national security” as defined by Section 232.
President Trump has until April 11th to make a ruling on the recommendations of Secretary Ross. The recommendations include tariffs and quotas on imported steel which could raise steel prices significantly. Although a final decision has yet to be made, the report has caused new challenges in the steel market. Some mills are not taking new orders, while others are not quoting prices. There also has been speculation that some products may be subject to allocation.
Because of the uncertainty regarding both price and availability, Greer Steel Inc. reserves the right to review all existing quotes prior to acceptance of an order. Acceptance of orders will be based on the best available market information. We understand this impacts your business as well as ours and we will do our best to mitigate the impact of these market disruptions.
Greer Steel Inc. will continue to communicate further developments in the current market. Thank you for your business and we look forward to working with you.
*David Kapla *
*General Manager Greer Steel Inc*