This Morning in Metals: Indonesian Government Mulls Freeport Copper Contract Extension

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This morning in metals news, the Indonesian government is considering whether or not to extend the copper export contract with Freeport McMoRan, Reliance Steel and Aluminum announces its fourth quarter earnings.

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Indonesia Considers Copper Contract Extension

The Indonesian government will consider whether or not to extend a copper concentrate export contract with the Freeport McMoRan mine, Reuters reported.

According to the report, Freeport’s current export permit will expire Feb. 16.

Aluminum Tariffs Could Mean Pricier Beer?

President Trump has met with lawmakers this week to discuss potential tariffs on steel and aluminum imports.

One lawmaker, Wisconsin Republic Ron Johnson, pointed out tariffs on aluminum could have an impact on the price of beer, as tariffs could lead to a higher cost to can.

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Reliance Steel and Aluminum Announces Q4 Earnings

Reliance Steel and Aluminum released its Q4 earnings results this week. In Q4, revenue jumped 15.5% year over year to reach $2.38 billion.

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