The Mexico Metals Outlook 2025 conference explored challenges and opportunities in the steel, aluminum and scrap markets, focusing on tariffs, nearshoring, capacity growth and global trends.

The recent US-China agreement to temporarily reduce tariffs is a major step for global trade, with tariffs on US goods entering China dropping from 125% to 10% and on Chinese goods entering the US decreasing from 145% to 30% starting May 14. While this has boosted markets and created optimism, key industries like autos and steel remain affected, leaving businesses waiting for clearer long-term trade policies.

The US-UK trade deal removes Section 232 tariffs on British steel and aluminium, reduces automotive tariffs and sets a framework for addressing global trade issues.

Ford Motor Company will offset $1 billion of an expected $2.5 billion exposure from tariffs and remains "on track and within our original full-year guidance range of $7 billion-8.5 billion" in operating earnings for 2025, Jim Farley, president and chief executive officer, said during the automaker's first-quarter earnings call on Monday March 5.

Trump’s first 100 days in his second term have reignited debates over the impact of tariffs on the US steel industry. While the administration claims tariffs protect American jobs and boost the economy, experts point to rising costs and uncertainties affecting businesses. From higher steel prices to strained trade relations, the effects are already being felt, leaving many questioning the future of US steel and related markets.

Fastmarkets has partnered with the Intercontinental Exchange (ICE) to launch a series of cash-settled lithium, spodumene and cobalt futures contracts that will be settled against Fastmarkets assessments.

Read Fastmarkets' monthly battery raw materials market update for April 2025, focusing on raw materials including lithium, cobalt, nickel, graphite and more

US automakers boost domestic production to counter 25% auto tariffs

A raft of commodities including steel, aluminium, and copper emerged from Wednesday April 2, which was dubbed ‘Liberation Day’ in the United States, with a reprieve from reciprocal tariffs

EV advocate Quentin Willson talks myths, market trends and the road ahead