The steel industry is one of the most important in the world. It’s a foundational product, vital for everything from construction to manufacturing. However, it is also one of the most volatile. Demand or lack of, high or low production, tariffs, prices, supply chain issues, and geopolitical problems can all have a huge impact. We’re seeing some interesting changes in the US that could potentially affect other countries. Let’s have a look, then you can rely on us if you want to arrange services like tube swaging for steel tubing or other materials.

Traditions

The US has been one of the leading steel producing countries in the world for decades. In fact, it was the biggest producer for much of the 20th century, peaking in the 1950s. While it has fallen behind China and India, it still remains a big player.

Because it was such a massive producer, the US typically gets the vast majority of the steel it needs domestically. In fact, for a long time this was the cheapest option for businesses. Imports were quite rare due to uncompetitive prices and issues like lead times.

Things are changing here though. Steel prices in America have been climbing. For example, hot rolled coil was up from $800 per short ton in summer 2025 to around $1,200 this year. The increase makes imports more attractive, even when you consider the additional costs of tariffs. It is having an interesting impact on the market. Speak to us if you want tube swaging or other services from a top expert in the UK.

Changes

Naturally the closing price gap makes more US companies consider imports. In fact, it is looking likely that imported steel will be at the highest level since May 2025. There has been particularly notable growth in the demand for semi-finished products, long steel such as billets, and pipe/tube.

So where is the US importing steel from? Typically they get products from neighbours like Canada and Mexico. It also has deals with Turkey, Brazil, and other countries. South Korea has become a major source, but stakeholders are expecting trade action to address this. Plus, countries like Vietnam, Algeria, and Pakistan are growing in prominence.

It will be interesting to see what happens with the steel market in the US. There are estimates that imports will plateau. Some experts predict domestic prices may slip, but others are expecting them to continue rising in October and November. There are also predictions the US could introduce quotas to address imports. Rely on us for tube swaging and much more.

Impact on the UK

It’s worth considering if the situation in the US will impact steel in the UK. We import a large amount of the material, but luckily the majority comes from Europe and Asia. There are also plans to revolutionise production here, ensuring more projects use British steel. Prices are rising though, primarily due to new trade measures introduced at the start of July. The forecast is they could surge over the rest of 2026 and into 2027.

High quality tube swaging and other services

Multiform Tubes Engineering Ltd is one of the most reliable experts if you’re planning to use metal tubing for projects. We can bend it, alter the ends, drill it, and more. We’ll achieve the best results, ensuring tight tolerances and great finishes for various materials, including steel.

So, get in touch today and discuss tube swaging and other solutions with us. We’re happy to share our expertise and offer suggestions for any applications.