The American Iron and Steel Institute says steel shipments in the U.S. totaled 7.6 million tons in January, down from 7.7 million during the same month last year. However, our partners at The Times of Northwest Indiana report the January total was 4.2 percent higher than the previous month.
Northwest Indiana accounts for about half the blast furnace capacity in the country, according to the publication. Steel shipments reflect the amount of steel actually sold, making it one of the most important metrics when calculating the financial health of the steel industry.
Though there was no effect on January steel shipments, President Donald Trump recently signed executive orders imposing a 25 percent tariff on all imported steel and a 10 percent tariff on all imported aluminum. Members of Indiana’s congressional delegation reacted to the move, including Senator Todd Young (R-IN), who spoke with Inside INdiana Business about the tariffs.