This morning in metals news, China initiated an anti-dumping probe of stainless steel imports worth a total of $1.3 billion, LME copper held above its one-year low Monday and President Trump will visit the Granite City steelworks in Southern Illinois this Thursday.
China Investigates Stainless Imports
According to Reuters, China has initiated an investigation of stainless steel imports from Indonesia, Japan, Korea and the E.U.
The imports are worth a total of $1.3 billion, according to the report.
LME Copper Staves Off Further Losses, For Now
After hitting a one-year low, LME copper held above that level on Monday, Reuters reported.
London copper traded at $6,154/mt on Monday after falling to $5,988/mt on Thursday.
Trump to Visit Granite City
Announcements of the restarting of blast furnaces at U.S. Steel’s Granite City steelworks in Southern Illinois have represented a victory for the Trump administration, which has embarked on a program of tariffs and other trade remedies (including a 25% tariff on steel imports).
Now, the president has announced he plans to visit the facility this Thursday.