This Morning in Metals: U.S. June Steel Imports Fall to 1.8M Metric Tons

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This morning in metals news, June steel imports in the U.S. declined, U.S.-China trade talks are expected to resume after falling apart in May and copper prices picked up Wednesday.

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June Steel Imports Hit 1.8M Tons

June steel imports in the U.S. fell to 1.8 million metric tons, down from 1.9 million metric tons in May, the U.S. Census Bureau reported Wednesday.

U.S. imports from Korea and Brazil fell, while increases occurred from Canada, Russia and Germany, according to the Census Bureau report. (In May, the Trump administration removed its Section 232 steel and aluminum tariffs vis-a-vis Canada and Mexico.)

U.S.-China Talks Set to Resume

The U.S. and China’s long-running trade talks fell apart in May, but they appear to be set to pick back up next week.

U.S. trade negotiators will head to Beijing for the next round of talks sometime in the next week, CNBC reported.

Talks fell apart in May, as the U.S. accused China of reneging on previous commitments; ultimately, President Donald Trump increased tariffs on a previously announced $200 billion list of Chinese goods.

Copper Prices Rise

News of the resumption of trade talks between the world’s two largest economies spurred upward movement in the copper price.

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LME copper picked up 0.5% to reach $6,000 per ton, Reuters reported.

Comment (1)

  1. mrssteel says:

    Gulf Importers Seeking Vietnam Pre-Painted Flat Steel (PPGI PPGL) after definitive safeguard measure on GCC imports of Pre-Painted Flat Steel on 25/04/2018.

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