The increase in tariffs on lubricants and lubricant additives is the result of the Sino-US trade war, but steel tariffs are a protectionist measure proposed by the United States against most steel-producing countries in the world. On March 23 last year, the Trump administration proposed to impose a 25% steel tariff on all countries except Argentina, Australia, Brazil and South Korea.
In this regard, Suzan Jagger, president of Share Jagger Advisory LLC, said that the additional tariffs have increased the cost of lubricating oil steel drum packaging by about 5 cents per gallon. There is also news that some European customers are reducing the cost of other steel drums. Tax rate countries to find suitable suppliers.
In the packaging industry, in order to avoid rising costs caused by tariffs, the practice of changing suppliers is not new, especially when steel prices have historically fluctuated. Ed West, senior vice president of General Steel Drum Co., Ltd., said: "When the price of steel increases and the cost of steel drums increases, some customers will always be lost."
According to West estimates, "With the tariff increase, the domestic and foreign (steel drums) sales price has risen by 12 cents, reaching 15 cents per pound." He also pointed out that the tariff increase has also resulted in lubricant steel drums The price of steel parts in the packaging has increased, such as the steel ring at the mouth of the open barrel.
Short comment: While the price of oil drums is rising, the price of steel drum closures is also rising. The company's products mainly include drum closure, cap seal, lock ring, clamp, bolt, etc.
Discussion On The Second Use Value Of Steel Drums in Yunnan ProvinceJuly 1, 2022Varieties, specifications, quantities, uses and trends of steel drums in Yunnan ProvinceThe main varieties of steel drums in Yunnan Province (the standard is called metal drums, the same below) are: 2...viewMastering the Art of 55 Gallon Drum CapsFebruary 21, 2024The 55-gallon drum is a staple in many industries, from oil and chemical to food and beverage. These drums are used for storing and transporting a wide variety of materials, making them incredibly ver...viewDevelopment Trends and Applications of Sealed Steel BarrelsAugust 18, 2023As China further opens up to the outside world, the use of national standard steel drums for export packaging has been restricted. In recent years, many steel drum enterprises in China have begun to i...view10 Questions About Waterborne Paint?July 1, 20221. What is the adhesion of water-based paint?Adhesion is better than oil paint (not including inferior water-based paint), dry quickly at room temperature, and has excellent rust resistance, corrosion...view
Reusable Packaging Industry InitiativeJune 30, 2022The Reusable Industrial Packaging Association (RIPA) advocates policies and practices that encourage the additional use and reuse of reusable industrial and transport packaging. Packaging reuse reduce...viewEnvironmental Progress of Steel Drum ClosuresJune 10, 2023Electroplating, painting and other processes in the production process of steel drums are major causes of water pollution and air pollution. Therefore, in the cause of environmental protection, our st...view
EN
ko 
fr 
de 
es 
it 
ru 
pt 
ar 
vi 
th 
