This Morning in Metals: European Commission president says E.U.-U.K. trade deal ‘impossible’ by end of 2020

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This morning in metals news, European Commission President Ursula von der Leyen said a trade deal with the U.K. will be “impossible” by the end of the year, the Chilean government won’t offer funds to help copper producer Codelco make needed upgrades and state regulators in Indiana say ArcelorMittal has been manipulating test results on the heels of a toxic spill last year.
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U.K., Europe talk trade as Brexit approaches

With the U.K. set to exit the E.U. at the end of January, attention is moving to what happens next — particularly with respect to trade.

Even after the U.K. formally exits the E.U., the U.K. will still be privy to general E.U. trade rules until the end of 2020.
However, Ursula von der Leyen, president of the European Commission, said it will be “impossible” to reach a trade deal by the end of 2020, the BBC reported.

Chile won’t pitch in funds for miner Codelco

State-run miner Codelco will have to look somewhere other than the Chilean government for funding, as the government plans to spend billions this year to deal with protests that have raged in the country since October, Bloomberg reported.
According to the report, Codelco, the world’s top copper producer, is looking to fund a $20 billion investment program.

State regulators says ArcelorMittal manipulated test results after toxic spill

State regulators in Indiana say steelmaker ArcelorMittal has been manipulating test results after a toxic spill stemming from its Burns Harbor plant last year, CBS Chicago reported.
According to the report, the Indiana Department of Environmental Management, in a letter to the company, said the company had redone tests which had initially turned up violations.
Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.
The toxic spill last August led to the deaths of thousands of fish in the Little Calumet River, which feeds into Lake Michigan.

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