Gap Widens Between Cost of Steel in U.S. and Abroad

American manufacturers are paying 17.2 percent more than their foreign competitors for hot- and cold-rolled steel, according to a study released in December by Business Forward.

The difference between U.S. and competitors’ prices is 1.8 times greater than it was in February, the report said.

Business Forward President Jim Doyle said American manufacturers are responding by shifting production overseas, cutting domestic capital investment, and importing more finished products.

Source: Industry Week