This Morning in Metals: U.S. Announces Steel Tariff Product Exclusions

The U.S. Department of Commerce. qingwa/Adobe Stock

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.
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Exclusion Time

The U.S. Department of Commerce announced Wednesday evening that it had begun granting Section 232 exclusion requests.

“This first set of exclusions confirm what we have said from the beginning – that we are taking a balanced approach that accounts for the needs of downstream industries while also recognizing the threatened impairment of our national security caused by imports,” Commerce Secretary Wilbur Ross said in a prepared statement.
The DOC announced it had decided to grant 42 exclusions. The seven requesting companies import steel products from Japan, Sweden, Belgium, Germany and China, according to the DOC release.
The seven companies receiving the exclusions are:
  • 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.
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ThyssenKrupp would enter a JV with Zhejiang Jingu and Ansteel, according to the report, with the German firm owning 34% of the JV.

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