Steel imports from Asia are rising even with the 50% U.S. tariff intended to keep foreign-made steel out of the U.S., says Indiana-based Steel Dynamics.

Flat-rolled sheet steel in Asia is selling for about half what U.S. steel buyers are paying for domestic steel, providing an incentive for Asian steelmakers to step up their exports.

On a call with analysts, Steel Dynamics' Chief Operating Officer Barry Schneider warned of intensified competition.

"We've been seeing very high, accelerated rates of all steel exports," he said. "These are very disruptive. The predatory, mercantile economies have to find somewhere in the world to put their goods."

Schneider said the company has asked the Trump administration to consider import quotas on individual countries to tamp down import volumes. "We believe the short-term disruption of these imports will hopefully be abated here in the third and fourth quarters," he said.

Steel Dynamics' stock price is up 2% today.