Metals in the Americas:The Weekly Extract
Metals in the Americas:The Weekly Extract。Industrial Metals equities rose 3% WoW, driven by gains in copper andnickel prices. Steel & Service Centers equities increased 3% despite HRCprice falling 3%, possibly on China trade data (-21% MoM steel exports)and Trump administration’s latest proposal to lift NA content in autos to85% (vs. current ~63%), with 50% minimum US content. Precious Metalequities increased 1%, underperforming precious commodities. Aluminum& Specialty Metals largely remained flat even with higher nickel andaluminum ( 1%).
Within Steel & Service Centers equities, Commercial Metals jumped 10%WoW on a possible acquisition of Gerdau’s NA rebar operations, whileArcelorMittal also rose 10% after signing a natural gas supply contract forits expanding Mexican operations. Amongst Industrial Metals equities,Vale rose 3% after China imports of iron ore increased 16% MoM. WithinPrecious Metals equities, Kinross was up 4% likely on underlying goldprice movement ( 2%). Among Aluminum & Specialty Metals equities,Century Aluminum fell 9% likely on concerns of increasing alumina inputcosts.