CHART: U.S. steel prices continue to increase after tariff announcement

U.S. steel prices have been increasing rapidly since the Trump administration enacted tariffs on steel imports.

In June 2018, benchmark domestic steel prices reached an average of $1,069 per metric ton, a 35 percent increase from a year ago, according to the U.S. Department of Commerce.

The most recent producer price index for iron and steel peaked at 244.8, compared to 215.9 one year ago, according to U.S. Bureau of Labor Statistics. Producer price indexes measure the average change in prices received by domestic producers for their product.

Meanwhile, affected by the tariffs, U.S. imports of steel mill products have declined to 2.35 million tons in July 2018, a 25.7 percent decrease compared to one year ago.

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