Another investigation and analysis of cheap steel imports coming to the U.S. was ordered yesterday by President Donald Trump. The Commerce Department will recommend to Trump whether or not to invoke Section 232 of the Trade Expansion Act of 1962, an action that would treat dumped steel imports as a threat to national security. Trump also signed a buy American/hire American executive order this week.
China’s Caught Between Bad Pollution and Falling GDP
It’ll be interesting to see what happens when China shuts down its aluminum smelters and steel mills to enforce tighter air pollution controls. Can China’s vaunted 6% GDP growth continue in such a scenario?
Zinc Prices Fall, Time To Buy on the Pullback
Zinc prices have finally fallen after doubling in price since the beginning of 2016; prices are now struggling in the $3,000 per metric ton level. This one doesn’t require a lot of thought. It’s time to buy.
India and Japan Wrestle Over Steel Imports at the WTO
The U.S. isn’t the only country taking action on cheap steel imports. India put up a safeguard to protect domestic manufacturers. Japan took the case to the World Trade Organization because it’s a big importer to the world’s largest democracy. India, however, is in no rush to have the global body hear the case.