This Morning in Metals: U.S. trade deficit down to $45.3B in January

freshidea Adobe Stock ustrade 042418
freshidea/Adobe Stock

This morning in metals news, the U.S. deficit fell in January, aluminum prices ticked up slightly this week and the CEO of the American Iron and Steel Institute is retiring.
Looking for metal price forecasting and data analysis in one easy-to-use platform? Inquire about MetalMiner Insights today!

U.S. trade deficit drops in January

The U.S. goods and services trade deficit reached $45.3 billion in January, down from $48.6 billion in December, the U.S. Census Bureau reported.
January exports reached $208.6 billion, down $0.9 billion from December, while January imports were down $4.2 billion to $253.9 billion.

Aluminum price ticks up

Meanwhile, the LME three-month primary aluminum price ticked up slightly, rising from $1,680/mt as of Feb. 28 to $1,726/mt as of March 5.
On a month over month basis, the three-month price was up 0.76%, according to MetalMiner IndX data.
MetalMiner’s monthly buying outlook reports give you pricing and specific buying strategies for 10 metal types. Request your trial now.

AISI CEO to retire

The American Iron and Steel Institute (AISI) said its President and CEO Thomas J. Gibson will be retiring this fall.
“Gibson has led AISI since September 2008,” AISI said in a release. “Under his leadership, the Institute successfully advocated for once in a generation legislation to strengthen the trade laws against unfair trade practices and level the playing field for steel manufacturers, for successful passage of transportation and infrastructure bills to benefit the steel industry, and for a balanced approach to energy and environmental regulations that do not diminish manufacturing competitiveness and capitalize on the natural gas renaissance in the U.S.”
AISI said the search for Gibson’s successor will begin immediately.

Leave a Reply

Your email address will not be published.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

Scroll to Top