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UPDATE 1-US Commerce Secretary to reveal options for steel, aluminum tariffs

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WASHINGTON, Feb 16 (Reuters) - U.S. Commerce Secretary Wilbur Ross will reveal options for steel and aluminum tariffs on national security grounds at noon a.m. EST (1700 GMT) on Friday, the department said, the first insight into how the Trump administration may proceed to curb imports of the metals.

The department said Ross will not announce U.S. President Donald Trump's decision on how to deal with the surge in steel and aluminum imports after U.S. producers said those products were unfairly hurting them.

Some steel stocks were stronger in morning trade. U.S. Steel up 2 percent, and AK Steel up 1.1 percent. But the picture was mixed with some producers' shares falling and the broad S&P 1500 steel index added 0.3 percent.

Trump was presented with reports last month following parallel "Section 232" investigations into whether import restrictions on steel and aluminum are needed to protect national security. The probes were authorized in April last year under a 1962 trade law that has not been invoked since 2001.

Trump met with a bipartisan group of U.S. senators and representatives at the White House last week, signaling he would take at least some action to restrict imports of the two metals.

"What were talking about is tariffs and or quotas," Trump told the group. "Part of the options would be tariffs coming in. As they dump steel, they pay tariffs, substantial tariffs, which means the United States would actually make a lot of money."

Some lawmakers and steel and aluminum users have urged caution in any restrictions to avoid disruptions or price spikes in the raw materials, used in everything from autos to appliances and aircraft and construction.

Trump has until around April 11 to decide whether to impose steel import curbs and April 20 to decide on aluminum restrictions. (Reporting by Lesley Wroughton and David Lawder; Editing by Jeffrey Benkoe)