U.S. steelmakers moved fast to raise prices after new tariffs were levied on some foreign competitors last year, but the quick increase has alienated some buyers and threatens to short-circuit a steel-market rebound.
Domestic steel companies have raised prices by as much as 50% on popular types of steel in recent months. That has boosted their profits, but troubled customers who say they can’t afford the higher cost. Steel users say they are looking for cheaper alternatives from countries unaffected by the tariffs.
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