25
Apr
16:13
Section 232 tariffs dampen profits for Insteel Industries
Insteel Industries executives say Section 232 tariffs resulted in lower first-half 2019 earnings, Kallanish notes. Insteel reports net earnings of $5.2 million for the first six months of fiscal 2019, down from $14m in the same period a year ago.
Import tariffs on hot-rolled wire and a lack of tariffs on downstream products have combined to reduce margins and disrupt the market the company says. During a conference call, Insteel president Howard Woltz point…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous