This Morning in Metals: E.U. Expresses Pessimism About Section 232 Exemption

This morning in metals news, the E.U. is reportedly getting ready for the U.S. Section 232 tariffs to go into effect, U.S. raw steel production was up last week and Rio Tinto asked the Mongolian government to fulfill contract stipulations related to the firm’s copper mining project in the country.
Need buying strategies for steel? Try two free months of MetalMiner’s Outlook

E.U. Not Optimistic About Section 232 Exemption

According to an Associated Press report, the E.U. has expressed doubt that it will win a long-term exemption from the U.S.’s Section 232 steel and aluminum tariffs.
“There have been signals from the U.S. that the exemptions will not be prolonged. So either they will be imposed on us the first of June, or there will be other sorts of limiting measures,” E.U. Trade Commissioner Malmstrom was quoted as saying.

Steel Production Rises

U.S. raw steel production for the week ending May 19 was up 3.3% from the same week last year, according to the American Iron and Steel Institute (AISI).
Production for the week was also up 1.6% from the previous week ending May 12.