The United States will impose additional tariffs on Chinese goods entering the country from the start of September, according to US President Donald Trump, which could hit shipments of metals and minerals from China to the US and suppress commodity consumption in the former.
JSW Steel (USA) has filed a complaint against the United States government, acting by and through the Commerce Department, for denying its requests for exclusions from the Section 232 tariffs and quotas on imported steel.
China’s exports of lithium carbonate soared in the first half of this year from a year earlier because of a domestic supply surplus that pressured prices lower, making them attractive to foreign buyers.
Aluminium alloys from China will be subject to at least 20% in tariffs by September, while for hundreds of steel products it will be at least 35% if the latest round of tariffs threatened against China take effect, sources indicated to Fastmarkets.
Competition in the copper departments of major miners is heating up to the extent that they are turning to trading to generate greater revenue.