US President Trump’s announcement final Friday that US tariffs on Metal and Aluminum imports can be elevated from 25% to 50% — with the upper tariffs being mentioned to take impact tomorrow — initially brought on additional uncertainty on the bottom steel markets, with costs within the US rising sharply, Commerzbank’s commodity analyst Barbara Lambrecht notes.
Temper between the US and China has deteriorates once more
“The premium payable within the US for Aluminum jumped by 45% and yesterday reached a brand new excessive of $1,240 per ton. The value of Copper on the COMEX additionally rose considerably, as the rise in tariffs on Aluminum and Metal fueled considerations about future tariffs on Copper.”
“Elsewhere, nevertheless, costs initially got here below strain. In any case, these advert hoc measures are reigniting fears of an escalation of the tariff battle, particularly because the temper between the US and China has deteriorated once more in different areas and the EU has been fast to threaten counter-tariffs.”
