The Zhitong Finance App learned that against the backdrop of President Trump's tariffs limiting foreign supply, US steel prices have climbed to the highest level in more than four years — this has boosted domestic producers, but has boosted the costs of US manufacturers. Hot rolled coil is a widely used form of steel and is also the benchmark price indicator in the United States. Its price continued to rise over the past year, rising 52% to $1,255 per short ton, according to Fastmarkets data. The last time this level was reached was in May 2022.

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