RE: Anybody knows…I can't find anything specific in their 3Q report. I too am curious how the tariff removal might affect Russel. I emailed investor relations with that more general question, and will post their reply when I get one.
My hunch is that it will be neutral to marginally positive. As a value-added reseller, lower steel prices should lower their cost of goods.
If Leroux was still its own company, I think it would be adversely affected, but its acquistion by Russel and the corresponding closure of Russel's old Lachine facility represents the kind of industry consolidation that should weather foreign competition fairly easily.
Russel also comes across as very adaptive to changing circumstances, giving it stability in what is otherwise a cyclical business. With that and their geographical distribution that positions them close to their customers, I don't see them as needing protection from foreign competition.
However, whether cheaper steel imports will improve their bottom line I can't say. I like this company, but I must confess I don't know it well enough.
In meantime, I await their response which hopefully will be forthcoming.