Steel stocks surge after Trump doubles steel tariffs, Cleveland Cliffs jumps 25%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 02 2025
0mins
Should l Buy STLD?
Source: CNBC
Steel Tariff Increase: President Trump announced a doubling of tariffs on steel imports from 25% to 50%, leading to significant stock price increases for major steel companies like Cleveland-Cliffs, Steel Dynamics, and Nucor.
Global Trade Tensions: The European Union criticized the tariff hike, stating it undermines negotiations and is prepared to impose countermeasures, while Trump touted a partnership between U.S. Steel and Nippon Steel as beneficial for American jobs.
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Analyst Views on STLD
Wall Street analysts forecast STLD stock price to fall
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 199.510
Low
185.00
Averages
190.71
High
195.00
Current: 199.510
Low
185.00
Averages
190.71
High
195.00
About STLD
Steel Dynamics, Inc. is an industrial metals solutions company. Its Steel Operations segment consists of its EAF steel mills, producing steel from ferrous scrap and scrap substitutes, utilizing continuous casting and automated rolling mills, and numerous steel coating, processing lines and warehouse operations. Its Metals Recycling Operations segment includes its OmniSource ferrous and nonferrous processing, transportation, marketing, brokerage, and scrap management services primarily throughout the United States and in Central and Northern Mexico. Its Steel Fabrication Operations segment includes its New Millennium Building Systems’ joist and deck plants located throughout the United States, and in Northern Mexico. Its Aluminum Operations segment includes the recycled aluminum flat rolled products mill being constructed in Columbus, Mississippi, and two satellite recycled aluminum slab centers in the southwest United States and Central Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strong Software Stock Performance: Software stocks like Crowdstrike Holdings and ServiceNow rose over 4% and 3%, respectively, lifting the broader market and indicating a rebound in investor confidence in tech stocks, particularly amid rapid advancements in AI technology.
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See More
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- Stock Surge: Algoma Steel (ASTL) saw an 11.1% increase in Friday's trading, primarily driven by reports of Trump considering rolling back steel and aluminum tariffs, indicating a positive market reaction to potential policy changes.
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- Market Response: Unlike U.S. steelmakers, Algoma Steel's shares surged on the potential tariff rollback news, although the stock remains down 45% from a year ago, reflecting ongoing pressures from tariffs and duties imposed by its largest trading partner.
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- Industry Response: Following the news, aluminum and steel sector stocks rose on Friday, reflecting investor optimism regarding the potential tariff reductions, which could enhance corporate profitability.
- Market Impact: If tariffs are lowered, production costs may decrease, thereby improving the competitiveness of U.S. manufacturing, fostering economic growth, and creating job opportunities.
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