This Morning in Metals: U.S., China Conclude Latest Round of Trade Talks

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This morning in metals news, the latest round of U.S.-China trade talks wrapped up Wednesday, steel companies are not reducing emissions fast enough and analysts cut their copper forecast for fourth-quarter prices.

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U.S., China Conclude Talks in Shanghai

Trade negotiators from the U.S. and China wrapped up yet another round of trade talks this week in Shanghai.

In a statement, China’s Ministry of Commerce described the talks as a “constructive and deep exchange on major trade and economic issues of mutual interest,” Reuters reported.

According to the report, the Ministry of Commerce also said the two sides agreed to meet again in September.

Steel Industry and Carbon Regulations

As the global focus on climate change intensifies, steel companies are not reducing their emissions quickly enough, according to a new report by CDP cited by CNBC.

According to the report, steel companies are not doing enough to avoid a rise of 2 degrees Celsius, a fact that could have an impact on their bottom lines.

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In Europe, for example, the carbon price has tripled since last year, according to the report.

Copper Price Forecast

Analysts polled by Reuters were bearish on the copper price this year, recently forecasting an average fourth-quarter LME price of $6,291 per ton.

The fourth-quarter price forecast for copper marked a 5.4% decline from a previous forecast in May.

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