Week in Review: Price Movements, Indian Exports and Section 232 Exemptions
Before we head into the weekend, let’s take a look back at the week that was with some of this week’s stories here on MetalMiner:
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- What’s going on with steel prices? Have they neared a top? MetalMiner’s Irene Martinez Canorea offered her analysis on the subject earlier this week.
- Also on Monday, MetalMiner’s Stuart Burns touched on aluminum prices, which have been on a wild ride the past couple of weeks with the announcement of sanctions on Russian companies and oligarchs, and then again when the U.S. Treasury opened the door to the potential easing of said sanctions (including against Russian aluminum giant Rusal).
- India is looking east for its exports.
- President Donald Trump and Saudi Arabia are at odds over the oil price.
- Following up on the earlier post, Burns covered the subsequent drop in aluminum prices on the heels of the Treasury’s announcement.
- The European Steel Association hopes the E.U.’s steel safeguard measures prevent a “surge” in imports.
- Like aluminum, the nickel price also dropped significantly earlier this week.
- The Aluminum Association urged President Trump to grant quota-free tariff exemptions — with respect to Section 232 — to “responsible” trading partners, calling for specific action to address Chinese overcapacity.
- MetalMiner’s Sohrab Darabshaw offered the latest update on the bidding process for the bankrupt Indian firm Essar Steel.
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