This Morning in Metals: Shanghai Copper Prices Flatten After Earlier Declines

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This morning in metals news, Chinese copper prices held flat Wednesday after drops earlier in the week, Novelis says it sees limited impact from the U.S.’s Section 232 tariff on aluminum and miner Rio Tinto is looking to take its Iron Ore Company of Canada public in early 2019.
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Chinese Copper Prices Flat

After declines earlier in the week, Chinese copper prices held flat Wednesday, Reuters reported.
According to the report, the most-traded contract on the SHFE ticked up 0.04% Wednesday.

Tariff Impact? Not Much, Says Novelis

Everyone wants to know what U.S. companies are thinking about the Trump administration’s Section 232 tariffs on steel and aluminum.
Do companies like them? Do they think they’re burdensome? Overall, how do they measure the tariffs’ effects on their businesses and the economy at large?
According to one aluminum firm, Novelis, the tariff on aluminum has had a “limited impact.”

Rio Tinto to Make Canadian Company Public

Miner Rio Tinto has plans to make its Iron Ore Company of Canada business public, according to a report in the Australian Financial Review.
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According to the report, the miner is eyeing a valuation of about U.S. $4 billion for the company.

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