The Aluminum Monthly Metals Index (MMI) remained sideways with an upward bias. Overall, the index rose 1.16% from February to March, supported by modest increases in global aluminum prices. Midwest Premium Futures Stall after Aluminum Tariffs The aluminum market has started to settle following a sharp uptrend in U.S. premiums that began late last year. […]
Tag: tariffs
Stainless MMI: Outokumpu Cuts Discounts, Nickel Prices Rise
The Stainless Monthly Metals Index (MMI) remained sideways, supported by modest increases among most of its components. The index rose by a modest 0.56% from February to March. Meanwhile, nickel prices continued their uptrend. Outokumpu Reduces Stainless Steel Discounts Outokumpu closed out February announcing reductions to a number of stainless steel discounts. Beginning March 1, […]
Worried About Trump Tariffs? Here’s Our Comprehensive Guide to 2025 Steel and Aluminum Tariffs
In February 2025, President Trump reinstated and expanded the Section 232 tariffs on all steel (including stainless steel products) and aluminum imports, setting a flat 25% duty effective March 12, 2025 (what’s known as the “Trump Tariffs”). This renewed policy removes all previously negotiated country-specific exemptions and broadens the tariff’s scope to include a diverse […]
Are Trump’s Tariffs Causing a Global Metal Market Earthquake?
The so-called “Trump Tariffs” have shaken things up for metal traders worldwide. At least three countries in the Asia Pacific region will see significant impacts from U.S. President Donald Trump’s 25% tariff imposition on steel and aluminum. In addition to increasing the rate to 25% from the previous 10%, President Trump also removed exemptions and […]
China Reacts Strongly to WTO’s Ruling of Trump Administration Metal Duties
In the latest US steel news, a WTO ruling has sparked a new war of words between the United States and China. Last weekend, the WTO finally ruled on the 25% taxes on global steel imports and 10% import tariffs on aluminum imposed under former US President Donald Trump. The WTO dispute settlement panel ruled […]
UK steel tariffs hit imports from Russia
The U.K. government has imposed a 35% import tariff on iron and steel from Russia and Belarus as part of denying the two countries Most Favored Nation tariff for hundreds of their exports. UK steel tariffs hit imports from Russia A March 15 statement from the Department for International Trade and HM Treasury named the […]
This Morning in Metals: GM to invest $51M in Indiana aluminum die casting foundry
This morning in metals news: General Motors will invest $51 million to install equipment at its Bedford, Indiana aluminum casting die foundry; nickel prices have gained this past month; and, lastly, the U.K. trade minister reportedly told the U.S. they could consider expanding tariffs on U.S. goods if the U.S. does not remove the Section […]
Inflation and tariffs — what’s the connection?
Inflation is currently a hot topic on Wall Street and in Washington. For many, it’s a much more immediate issue than other major issues, like the impact of climate change. A recent Financial Times post in the paper’s Trade Secrets newsletter posed a somewhat controversial but not inappropriate question: could removing tariffs be the answer […]
US, Japan to initiate talks on Section 232 steel, aluminum tariffs
The United States and Japan have agreed to initiate talks regarding the former’s Section 232 tariffs on Japanese steel and aluminum imports, Reuters reported this week. According to a report by AP, Japan’s industry ministry said Japan’s Industry Minister Koichi Hagiuda and U.S. Commerce Secretary Gina Raimondo attended the meeting. However, a ministry official said […]
The steel market in both the United States and Europe continues to experience supply constraints
The steel market is running two diverging narratives. In the U.S., the market remains extremely tight. Mill lead times are out to the end of this year. Furthermore, prices are set to stay high into 2022. The situation is not dissimilar in Europe. In Europe, the steel market is seeing a similar post-pandemic bounceback, supply […]
