This Morning in Metals: Copper Flat Ahead of Trump-Xi Meeting
This morning in metals news, the copper price didn’t budge Thursday ahead of a key meeting between U.S. President Donald Trump and Chinese President Xi Jinping, Nucor announced a price hike for flat-rolled steel products, and automaker Tesla won a tariff exemption on aluminum imported from Japan.
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Copper Price Holds Flat
Markets are anxiously awaiting the results of a key meeting between U.S. President Donald Trump and Chinese President Xi Jinping during the G20 Summit in Japan this weekend.
On Thursday, however, the copper price held flat.
The LME three-month copper price ticked up 0.1% Thursday after soaring to a five-week high during the previous session, Reuters reported.
Nucor Raises Flat-Rolled Steel Prices
Steelmaker Nucor announced its first price hike on flat-rolled steel since February, according to Yahoo! Finance.
The price hikes apply to HRC, CRC and HDG, according to the report.
Tesla Wins Aluminum Tariff Exemption
Electric car maker Tesla secured a tariff exemption for aluminum it imports from Japan, Reuters reported.
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The automaker sought the exemption for the aluminum — which it uses for the production of battery cells at its Nevada Gigafactory — at an annual rate of 10,000 tons, according to the report.
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