The Week in Metals: Post-Election Edition

vote Andrey Burmakin/Adobe Stock

This week, most commodities producers rejoiced as Republican Nominee Donald Trump won the U.S. presidential election, assuring oil, gas and metals producers that a whole slew of regulations and rules will be relaxed once he takes office in January.

The EPA Clean Power Plan now appears to be dead in a Trump administration. He already promised to kill it on the campaign trail and the Supreme Court has looked at it skeptically as well. The chances of anything remotely similar to the existing Clean Power Plan, which sets a national limit on carbon pollution produced from power plants, coming out of the new administration are remote. In Washington there are already rumors that Trump will name famed climate change skeptic Myron Ebell, who is on Trump’s transition team, to head the EPA.

What About Trump Trade?

When it comes to international trade, Trump has been even more of a hawk than he has on environmental policies. He has talked of “renegotiating” the North American Free Trade Agreement, promised to not sign the Trans-Pacific Partnership and said he will build a border wall between the U.S. and Mexico. What does all this mean for actual policy? We asked Wiley Rein International Trade Practice Attorney Alan Price what it all means.

What Do All Those Metals Markets Think?

After initially running up on uncertainty over a non-politician winning the presidency, gold calmed down on Wednesday and stock markets hit new highs. In a move unrelated to politics, copper finally broke resistance and hit new highs this week.

Bull Endurance

Meanwhile, the bull market that metals have enjoyed for 2016 looks like it will assuredly extend into 2017. Prices are up, supply is down and even the metals that have lagged this year are now joining the bull run.

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