SMU: Biden boosts tariffs on Chinese imports, steel and aluminum hit hard
White House Unleashes Trade Blitz Against China: Steel, Aluminum Tariffs Soar Amidst Growing Tensions
Market: Trade
Ferrous market shapes up with Detroit buy
After a considerable wait, the market for ferrous scrap for May shipment has started to form.
CRU: Turkish scrap import prices were stable as import activity slowed
Scrap import activity slowed last week as Turkish mills have completed their recent restocking activity
Non-ferrous recycled spreads remain tight, exports competitive
Overselling and underdelivering?
Wage growth slows amid talks of Fed rate cut
April jobs report signals wage growth slowdown, fed rate cut talks emerge.
Final Thoughts: Bullish indicators for scrap
Steel scrap prices under pressure
ICSG revises 2024 copper forecast
Production growth had been forecasted at 3.7% by the group in October 2023.
CRU: Prelim antidumping duties announced, Porsche looks at aluminum for Taycan
Porsche research shows replacing roof of Taycan EV with aluminum could drop weight by 40%
Mexico's aluminum tariffs shake up market dynamics
The move has particularly impacted over 90% of Mexico's P1020 imports, with countries like India, South Africa, Russia, and Argentina bearing the brunt.
Hoffman: Export and Asia markets impact US domestic scrap markets
The wild cards in some price negotiations are Bangladesh and India.