This Morning in Metals: Argentina Imposes Export Tariffs on Steel
This morning in metals news, Argentina sets exports tariffs, LME copper drops and China’s biggest aluminum-producing city is getting set to roll out high-end aluminum projects.
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Argentina Slaps Exports with Tariffs
Argentina added export tariffs to all products, including steel, according to S&P Global Platts.
According to the report, the country’s steel exports to the U.S. in the year to date are down 11.9%.
LME copper reached a nearly two-week low Tuesday, Reuters reported.
However, the metal stabilized, ultimately trading flat on Tuesday, according to the report, while SHFE copper fell 0.4%.
The Chinese city of Binzhou, home to aluminum major China Hongqiao Group, is planning projects to encourage growth in high-end aluminum production, according to a Reuters report citing a local government document.
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One of the projects includes an aluminum alloy plant of 10,000 tons per year, according to the report.
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