This Morning in Metals: China Launches Anti-Dumping Probe of Stainless Steel Imports

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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.

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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).

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Now, the president has announced he plans to visit the facility this Thursday.

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