This morning in metals news, China’s Ministry of Commerce expressed displeasure with the U.S. Department of Commerce’s ruling Tuesday on aluminum foil, the European Union will retaliate if the U.S. imposes steel tariffs and the copper price takes a dip.
China Expresses Dissatisfaction with Aluminum Foil Ruling
The U.S. Department of Commerce announced a final affirmative determination in the anti-dumping and countervailing duty investigations of aluminum foil imports from China.
Unsurprisingly, the Chinese government is not pleased about the decision.
In a statement from China’s Ministry of Commerce, Wang Hejun, the head of the ministry’s Trade Remedy and Investigation Bureau, was quoted by CNBC as saying, “The U.S. has disregarded the WTO rules and seriously damaged the interests of China’s aluminium foil exporters. China is strongly dissatisfied with this.”
German Deputy Economy Minister Warns of E.U. Response to Possible U.S. Steel, Aluminum Tariffs
As nations around the world prepare for the U.S. decision on steel and aluminum tariffs (stemming from the Department of Commerce’s Section 232 investigations, launched in April 2017), some are warning the U.S. of retaliation.
Germany’s deputy economy minister, Matthias Machnig, said E.U. trade ministers agreed Tuesday to respond to U.S. steel or aluminum tariffs, according to a Reuters report.
Copper Takes a Dip
The copper price fell to a two-week low Wednesday on account of a strengthening dollar and disappointing Chinese data, according to a Reuters report.
The price fell to $6,988 per ton, according to the report.