From Yahoo Finance: 2025-06-02 13:00:00

President Trump doubles steel and aluminum tariffs to 50%, citing a boost to American manufacturing. U.S. metal stocks rally on the news. Shares of steel and aluminum companies surge premarket: Cleveland-Cliffs +32.8%, Nucor +14%, Steel Dynamics +5.9%, Century Aluminum +13%. U.S. Steel, Alcoa, Kaiser Aluminum flat, ArcelorMittal drops, Acerinox jumps.

Analysts upgrade Nucor due to tariffs, setting price target at $145, a 33% increase. Goldman analysts predict increased chance of copper tariffs following steel and aluminum tariff hike. U.S. imports 17% of steel needs, mainly from Canada, Brazil, and Mexico. Potential for retaliatory tariffs from impacted countries.

Trump announces steel and aluminum tariffs increase to 50% effective June 4. U.S. steel and aluminum prices have risen since tariffs implemented. Overseas investments in U.S. aluminum smelter announced, steel investments progressing. Market expects tariff relief for overseas companies investing in U.S. Full tariff pricing risks and potential consequences on steel demand. Probability of copper import tariff rises.

Read more: Steel and Aluminum Stocks Surge After Tariff Announcement