"There's no reason for tariffs to increase the price of steel by far more than the percentage of the tariff, and yet that's what has been happening," Ross said. "That clearly is not a result of the tariff, that's clearly a result of antisocial behavior by participants in the industry."
Ross did not name any parties responsible for the price hikes. But he said the restart of some idled domestic mills would help alleviate any supply constraints by late this year, citing U.S. Steel Corp's restart of its Granite City, Illinois, blast furnace operations, which should add 2.5 million tons of raw steel output annually.
So, he says there's no reason for the increase above 25%, then addresses remedies to supply constraints. OK.