Reported about 8 hours ago
According to Citigroup analysts, aluminum and steel are set to be the most affected metals by President-elect Donald Trump's proposed 25% tariffs on imports from Canada and Mexico. With the U.S. relying heavily on these countries for metal supplies, the imposition of tariffs would likely drive up domestic prices significantly. Analysts predict that steel prices could rise by $100 to $150 per ton, while aluminum prices may see a substantial increase as well. Additionally, potential retaliatory measures from Mexico could exacerbate the situation, impacting U.S. mills more than expected.
Source: YAHOO