This morning in metals news, the U.S. Department of Commerce announced rulings in investigations of stainless steel kegs from China and Germany, copper prices rose on labor tensions in Chile, and the UAW’s strike continues as it mulls ratification of a tentative deal with General Motors reached last week.
DOC Makes Final Determinations on Stainless Steel Keg Imports
The U.S. Department of Commerce on Friday announced it had made affirmative final determinations in its anti-dumping and countervailing duty investigations of imports of stainless steel kegs from China and Germany.
The DOC determined the countries sold the kegs at less than fair values, ranging from 0 to 77.13% and 7.47%, respectively.
The DOC also determined that exporters from China received countervailable subsidies at rates ranging from 16.21% to 145.23%.
Copper Rises on Chile Labor Developments
LME copper reached a one-month high amid strikes at Chilean copper mines operated by Antofagasta and Teck Resources, Reuters reported.
LME three-month copper rose as much as 0.5% Monday, Reuters reported, up to $5,837.50 per ton.
GM Awaits UAW Vote on Deal
Last week, General Motors and the United Auto Workers (UAW) union announced they had reached a tentative deal that could potentially end the strike that has lingered for well over a month.
However, the strike continues, for now, as UAW members must vote on the deal.
If the deal is approved, talks will then shift to Ford and Fiat Chrysler, the Detroit Free Press reported.