This morning in metals news, the Section 232 steel investigation is reportedly in its final stages, better-than-expected data on the Chinese economy buoyed copper prices and a 3-D printing startup got a rich vote of confidence.
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Section 232 Steel Conclusion: Almost There?
The Section 232 investigations launched by the Trump administration in April have been the talk of the metals world.
While the announcement of the steel investigation was previously expected to happen by the end of June, the administration blew past that self-imposed deadline. Now, however, American Metal Market reports a “key report in the US Commerce Department’s Section 232 investigation into steel imports is nearly complete,” according to a department spokesman.
The announcement would come as tension continues to rise between the U.S. and China. Reuters reported yesterday that China had a record June for steel and aluminum production, which surely won’t do much to dissuade the Trump administration from imposing tariffs or quotas to combat global excess supply from China.
China Data Good For Copper
Reuters reported faster-than-expected Chinese economic growth led to copper prices holding steady Tuesday.
Despite a strong second quarter for the Chinese economy, many analysts predicted a second-half slowdown as the government looks to put the squeeze on credit growth. With that said, Chinese growth exceeded expectations, so perhaps the slowdown will not be as significant as expected.
The next dominoes to drop — the Section 232 investigations — may also have significant ripple effects for not only China, but the global economy.
Big Investment in Metal 3-D Printing
Desktop Metal announced it secured $115 million in funding, according to Fortune, a funding sum that includes backing from a number of big-name investors.
The 3-D printing startup, founded in 2015, aims “to make metal 3D printing accessible for engineering teams,” according to the company’s website.
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In terms of the regular, everyday consumer, 3-D printing still has a long way to go.
From the industrial side, however, money talks.
In this case, the $115 million investment is saying that some major players believe in the technology and see a bright future in it.