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

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.
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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.