Wall on the US-Mexico border may require up to 3 million steel

The American Iron and Steel Institute said it could take up to 3 million steel to create an all-steel barrier along the US-Mexico border.

US President Donald Trump said Sunday that his administration is now pursuing a steel barrier along the US-Mexico border, not the concrete wall he discussed during the campaign.

“We contacted a lot of people and I told my parents that we will build a steel barrier,” Trump told reporters in front of the White House on Sunday. “It will be made of steel. It will be less intrusive and stronger ... and we can use our great companies to do it. We are going to make a steel barrier, and that gives us strength at the border. "

AISI CEO Thomas Gibson said Monday that there are several applications and technologies that could be used to produce an all-steel solution for a potential barrier.

“Steel is readily available and is an innovative material that lends itself to a range of creative designs, such as the steel barrier,” Gibson said in a statement. "The strength and durability of steel makes it the material of choice - whether for construction, such as a barrier, or for cars, cans, transportation infrastructure, national security ... the list is endless."

The Trump administration has requested $ 5.7 billion. The United States to fund 234 miles of a new physical barrier on the southern border, but Democrats have opposed the idea of ​​creating a physical unit because they do not see it as the most effective way to secure the border. The US government closed partially on December 22 as a result of the border wall funding deadlock. The blackout began on Monday 17th day, making it the third-longest government shutdown in US history.

Trump's move to a steel border barrier did not appear to have an immediate impact on metallurgical stock prices on Monday. US Steel shares on the New York Stock Exchange rose 0.54% by the close of the market on Monday; AK Steel up 0.39%; Steel Dynamics Inc. rose 1.05% and ArcelorMittal's share price rose 1.32% after Friday close. Iron ore mining company Cleveland Cliffs saw the biggest gains, with its share price up 3.07%.

Nucor's share price declined slightly to 0.76%, while Commercial Metals Company share price was down 5.52% from Friday. On Monday, Nucor announced plans to build a $ 1.35 billion flat mill in the US Midwest, while CMC reported a decline in fiscal first quarter earnings on Monday.