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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting growing protectionist trends to support national industries, South Carolina's Governor has signed a new law mandating the exclusive use of U.S.-made iron and steel for public construction projects. According to reports, this mandate covers roads, bridges, and other infrastructure projects funded by taxpayer dollars. The legislation aims to provide guaranteed demand for domestic steel companies, though it may increase project costs unless waivers are granted for price hikes exceeding 25%.
This step comes as major steel producers like Nucor and U.S. Steel seek to strengthen their market share amid intense global competition. Per market data, Nucor (NUE), headquartered in neighboring North Carolina, stands as a primary potential beneficiary of local procurement policies in the Southeast region. Compared to previous quarter results, U.S. steel sector earnings have shown resilient infrastructure demand, a trend further bolstered by state-level legislations that align with the federal Infrastructure Investment and Jobs Act (IIJA).
Investors should watch NUE stock levels, which stood at $220.75 at close July 02, 2026, as the equity fluctuates near resistance levels of $222. Looking at the economic calendar, the Dallas Fed Manufacturing Index released on June 29 showed a reading of 0, indicating a steady state in the manufacturing sector. Upcoming infrastructure contract awards in the state will be key catalysts to assess how this law impacts the profit margins of local contractors and suppliers.