This morning in metals news, India went to the World Trade Organization (WTO) to file a complaint over the U.S.’s steel tariff, President Trump is reportedly considering a 10% cut in imports of steel and aluminum from the E.U., and the copper falls after optimism fades vis-a-vis U.S.-China trade relations.
India Goes to the WTO
India officially filed a complaint at the WTO over the U.S.’s steel tariffs, Reuters reported.
President Considers Import Cut
President Trump is considering cutting imports of steel and aluminum from Europe by 10%, according to a MarketWatch report.
The 28-member bloc’s exemptions from the Section 232 tariffs are set to expire June 1. The exemptions were extended April 30 by 30 days, less than 24 hours before the previous deadline.
Copper Price Falls
The copper price fell after some optimism stemming from the U.S.-China trade talks seems to have subsided, according to a Reuters report.
Flying against recent gains, LME copper dropped 2.2% Wednesday to hit $6,828 per ton, according to the report.