‘Happy with tariffs’: Steel industry emerges as trade war winner

07/31/2018

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Matt Egan

President Donald Trump’s metal tariffs have sent steel prices surging and sparked blockbuster profits for steel manufacturers.

Reliance Steel & Aluminum (RS) hauled in record sales, thanks to an 18% spike in prices. Nucor(NUE) recorded the best second quarter in its history. Its profit more than doubled.

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