This Morning in Metals: U.S., China Resume Trade Talks

freshidea Adobe Stock USAChina 031219
freshidea/Adobe Stock

This morning in metals news, U.S. and Chinese trade negotiators resumed talks this week, Goldman Sachs is pessimistic about copper supply and smaller Chinese steel mills are shaking off anti-pollution laws in an effort to compete against larger steel firms in the country.
Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook

Trade Talks

After trade talks fell apart in May despite significant optimism, China and the U.S. are back at the negotiating table this week.
Negotiators are meeting in Shanghai for the latest round of trade talks aimed at ending the escalation of tensions that have boiled over throughout the last year.
White House economic adviser Larry Kudlow downplayed the resumption, telling CNBC that he did not expect any “grand deal” coming out of this week’s Shanghai talks.

Copper Supply Troubles

Goldman Sachs is bearish on the copper supply market ahead, Bloomberg reported.
MetalMiner’s Annual Outlook provides 2019 buying strategies for carbon steel
According to the report, copper treatment charges in China have fallen to their lowest level in seven years, which could engender production cuts.

China’s Small Steel Mills

Smaller steel mills in China are bypassing environmental regulations aimed at stemming pollution in the country, Reuters reported.
According to the China Iron and Steel Association (CISA), smaller steel firms raised production by approximately a quarter through the first five months of the year, compared with 6.2% among CISA’s larger members.

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to Top