This morning in metals news, the U.S. released the first round of exclusion request responses vis-a-vis the Section 232 steel tariff, copper bounces back and ThyssenKrupp looks to form a joint venture in China.
The U.S. Department of Commerce announced Wednesday evening that it had begun granting Section 232 exclusion requests.
- Schick Manufacturing, Inc. of Shelton, Connecticut
- Nachi America Inc. of Greenwood, Indiana
- Hankev International of Buena Park, California
- Zapp Precision Wire of Summerville, South Carolina
- U.S. Leakless, Inc. of Athens, Alabama
- Woodings Industrial Corporation of Mars, Pennsylvania
- PolyVision Corporation of Atlanta, Georgia
In addition, the DOC said it would be denying 56 steel tariff exclusion requests from 11 different companies.
Copper Moves Away From Three-Week Low
The price of copper recovered on the heels of hitting a three-week low, as measures by the Chinese government could work to augment demand in the country, Reuters reported.
Three-month LME copper moved up 0.4% on Thursday, according to the report.
ThyssenKrupp JV in China
German firm ThyssenKrupp — which has been in the news of late in the context of its joint venture plans with Tata Steel — has plans to team up with two companies to produce steel wheels in China, according to Reuters.
ThyssenKrupp would enter a JV with Zhejiang Jingu and Ansteel, according to the report, with the German firm owning 34% of the JV.