Although producers are rejoicing, the price increases are painful for consumers of steel.

At its Plymouth, Mich., plant, Clips & Clamps Industries employs roughly 50 workers who stamp and form steel into components for cars such as the metal props that are used to keep the hood open when checking the oil.

“Last month, I can tell you, we lost money,” said Jeffrey Aznavorian, the manufacturer’s president. He attributed the loss, in part, to higher prices the company had to pay for steel. Mr. Aznavorian said he worried that his company would lose ground to foreign auto parts suppliers in Mexico and Canada who can buy cheaper steel and offer lower prices.

And it does not look like things are going to get easier for steel buyers any time soon. Wall Street analysts recently lifted forecasts for U.S. steel prices, citing the combination of industry consolidation and the durability, at least so far, of Trump-era tariffs under Mr. Biden. The two have helped create what analysts from Citibank called “the best backdrop for steel in a decade.”

Leon Topalian, the chief executive of Nucor, said the economy was showing an ability to absorb high steel prices, which reflect the high-demand nature of the recovery from the pandemic. “When Nucor is doing well, our customer segment is doing well,” Mr. Topalian said, “which means their customers are doing well.”

For their part, steel workers are enjoying a respite after being hit hard by the pandemic.

The city of Middletown in southwestern Ohio was spared the worst of the downturn, which saw 7,000 iron and steel production jobs disappear nationwide. Middletown Works — a sprawling Cleveland-Cliffs steel plant and one of the area’s most important employers — managed to avoid layoffs. But as demand has surged, activity and hours at the plant are picking up.

“We’re definitely running good,” said Neil Douglas, president of the International Association of Machinists and Aerospace Workers Local Lodge 1943, which represents more than 1,800 workers at Middletown Works. The plant, Mr. Douglas said, is having trouble finding the additional workers to hire for positions that could earn as much as $85,000 a year.

And the buzz at the plant is spilling over into the town. Mr. Douglas says he can’t walk into the home improvement center without running into someone from the mill who is embarking on a new project at home.

“You can definitely feel in the town that people are using their disposable income,” he said. “When we’re running good and we’re making money, people are going to spend it in town for sure.”

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