This morning in metals news, copper and other metals will bounce back modestly in 2019 (according to a Reuters poll), AK Steel surged during after hours Monday and the Office of the United States Trade Representative (USTR) is holding a public hearing today on trade negotiation objectives for a potential bilateral U.S.-U.K. trade agreement.
Reuters Poll: Modest Rebound for Base Metals in 2019
According to a Reuters poll, copper and other base metals are due for a “modest” rebound this year after struggling down the stretch in 2018.
LME copper is expected to average $6,307 per ton this year, according to the poll, while aluminum is expected to average around $1,978 per ton.
AK Steel Rises After Hours
Monday’s after-hours window proved to be fruitful for AK Steel.
According to CNBC, despite losses during Monday’s trading session, the firm’s shares gained 10% after hours.
A U.S.-U.K. Trade Deal?
While the Brexit saga continues, with no clear path to resolution in sight, the U.S. is preparing for a trading relationship with a U.K. outside of the E.U.
Today, the USTR is holding a public hearing to discuss “a proposed United States-United Kingdom Trade Agreement, including U.S. interests and priorities in order to develop U.S. negotiating positions.”
A full list of witnesses speaking during today’s hearing can be found here.