US Steel Costs Impacted by War, Trade Deals
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Sam McKinney, KeyBanc Capital Markets vice president and equity research analyst, said that while US steel mills have mostly hedged rising electricity costs with long term contracts, they are impacted by increasing diesel prices to ship steel by truck and rail route. On the other side of the coin, steel hasn't seen a drop in value in in the face of the war, as investors look to steel stocks to hedge against inflation. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET Saturday & Sunday 7am-10am ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: https://twitter.com/BloombergRadio Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android
Tags: Alexandra Semenova, Commodities, Iran, Metals Trading, Samuel McKinney, Steel, Tim Stenovec, Trade, US Steel, metals, steel mills, steel prices, steel production, tariffs, trump tariffs
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