Navigating the steel market's new terrain: tariff impacts on global markets and US manufacturing

China’s electric vehicle (EV) and battery industry participants expect more uncertainty under a second Donald Trump presidency amid the president-elect’s intention to scale back the Inflation Reduction Act (IRA) and pursue expanded protectionist trade policies, sources told Fastmarkets on Thursday November 7

Concerns over a potential decline in investments in the decarbonization of the steel industry are growing following the confirmation that Donald Trump will soon be returning as president of the United States, sources told Fastmarkets this week.

It was already getting more difficult to source nickel qualified as compliant to the Inflation Reduction Act (IRA). Under a future Donald Trump administration, it’s likely to get harder still, in the short-term at least.

Read a snippet of our weekly lumber report, analyzing how the US election and interest rate cuts have impacted prices.

Learn how changes in trade, housing and immigration policies could impact the US pallet market.

Aluminium market participants in the US anticipate stable business supported by continued tariffs and potential interest rate cuts, while industry sources in Europe and Latin America are watchful of potential new trade restrictions.

Donald Trump’s second term as US president is not likely to have too much of an impact on China’s electric vehicle (EV) and new energy markets, despite broader concerns over potential tariff hikes which might bring challenges to both China and the US, sources told Fastmarkets on Thursday November 7.

As the dust settles in Washington and Americans wake up to news that Donald Trump is once again president-elect, participants in the cobalt market discuss the wider ramifications on a crucial coming four years for the electric vehicle (EV) industry.

Spodumene prices rose on Wednesday November 6 as Chinese lithium producers restocked, but news of the US election result late in the session weakened sentiment.