Tariffs of article 232; prices are falling; China warns speculators
Before we start the weekend, let’s take a look back at the week that was here on MetalMiner, which included Section 232 tariff coverage, the recent decline in metals prices, China’s warning to commodity speculators and even more:
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Week of May 24 to 28 (section 232 rates, price drop and more)
- Stuart Burns has addressed calls from the UK steel industry for protectionist measures, even for steels it does not produce.
- In an agreement with a Brazilian university, Norsk Hydro plans to study the potential uses of bauxite tailings from its mining operations in Brazil.
- Metal prices have been pulling back in recent times, as Burns summarized earlier this week.
- The steel production capacity utilization rate in the United States stood at 79.0% last week, the American Iron and Steel Institute (AISI) reported.
- Amidst a surge in steadily rising prices, the Chinese government has sent a warning to commodity speculators and called on industry associations to work to restore “normal market orders.”
- Much to the dismay of the European Union, the US Section 232 tariffs on steel and aluminum are unlikely to be gone anytime soon.
- Christopher Rivituso, MetalMiner employee, gave an overview of the copper market.
- Chinese steel prices fell this week.
- Global crude steel production in April fell slightly from the previous month, the World Steel Association reported.
- JD Power and LMC Automotive, in their monthly auto sales forecasts, forecast a record May for new vehicle retail sales in the United States.
- The Economic Policy Institute has released a new white paper arguing for the positive impact of the Section 232 tariff on aluminum.
- Global copper mine production rose 3.5% in the first two months of the year.
- The MetalMiner team held their final webinar on Thursday, May 27, the video of which is available in the MetalMiner Video Archives.
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