The London Metal Exchange has extended the consultation period regarding its proposals on pre-trade transparency to March 1, it said in a note to members on Wednesday February 13.
The process to exclude steel and aluminium from the Section 232 import tariffs applied by the United States is having some interesting consequences. One of these is that, in the event of a national security issue – which Section 232 was designed to address – the US would theoretically rely on Japan for its imports of steel and Saudi Arabia for its imports of aluminium.
TowerBrook Capital is in the process of selling its stake in European base metals recycler Metallo, several sources with knowledge of the dealings told Fastmarkets. Metallo is Europe’s largest producer of refined tin.
Fastmarkets AMM summarizes nine key points gleaned so far from the 2019 Mexican Steel Forum held February 12-15 in Monterrey, Mexico.
US steel exports have plunged since the Section 232 tariffs were implemented against imports from Canada, Mexico and the European Union, according to a review of Commerce Department figures by Fastmarkets AMM.