This morning in metals news, the Brewers Association issued a statement expressing qualms about the Trump administration’s steel and aluminum tariffs, one analyst says U.S. Steel might actually be worse off after the tariffs, and copper miners are looking to the Mongolian dunes.
Brewers Association Says Canada, Mexico Tariff Exemptions Represent ‘Step in the Right Direction’
The Brewers Association released a statement in which it expressed concerns about the Trump administration’s steel and aluminum tariffs.
“The Brewers Association is concerned about both the aluminum and steel tariffs and the potential implications they will have on small and independent brewers,” the association said in the statement. “Though we think the more targeted tariffs exempting Canada and Mexico are a step in the right direction, we do not believe that can sheet aluminum or the steel used to make brewing equipment poses a threat to national security.”
Tariff’s Impact on U.S. Steel?
According to one analyst, the recently announced 25% steel tariff might not be a good thing for U.S. Steel.
Gordon Johnson, an analyst with the Vertical Research Group, told CNBC that U.S. Steel was “significantly, fundamentally, worse off “after the tariffs, which were intended to help the domestic steel industry.
Mining in Mongolia
Miners are always looking for the next source of valuable materials — according to Reuters, the dunes of Mongolian might be the next big source of copper.
Despite risks associated with work in the country, including extreme weather, miners are turning to Mongolia in search of copper, which is increasingly in demand (particularly in electric vehicles).
According to the report, Rio Tinto has been the sole copper miner in Mongolia for a while, but that could change as copper demand is on the rise vis-a-vis electric vehicles and copper sources in Chile are drying up.