• GET TWO ON US!

    Request 2 monthly metal buying outlooks at no cost to you. Understand the market in which you’re buying. Formulate your 2019 strategy.

    Sign Up Now >
  • MetalMiner 2019 Annual Metals Outlook

    New Outlook Report

    Grab our NEW 2019 annual metals outlook report – budget, forecast, strategize.

    Free Download >
  • Manufacturing White Paper

    ‘Farm-to-Table’ Becomes ‘Maker-to-User’: How a Manufacturing Movement is Emerging

    Get Your Copy! >
  • MetalMiner Benchmarking

    Benchmark your metal spend against more than 31 million price benchmarks from 1,300+ companies in 25 industries.

    Try it now >

General Motors’ new ARĪV Meld compact eBike. Source: General Motors

Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner:

Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook

Want to a see Cold Rolled price forecast? Get two monthly reports for free!

Charles/Adobe Stock

This morning in metals news, the copper price has surged to its highest level in 7 1/2 months, Canada’s ambassador to the U.S. is confident the U.S.’s Section 232 steel and aluminum tariffs will be coming to an end soon and China’s state-backed Chinalco plans to sell an aluminum plant for just under $164 million.

Need buying strategies for steel? Request your two-month free trial of MetalMiner’s Outlook

Copper Jumps to 7 1/2-Month High

The copper price, after a sluggish close to 2018, has surged to a 7 1/2-month high, Reuters reported.

Copper jumped 1.2% Friday, up to $6,454 per ton — its highest level since July 4, according to the report.

Canadian Ambassador to the U.S. on Section 232

It has been a year since the Trump administration went forward with Section 232 tariffs on imported steel and aluminum.

Furthermore, it’s been nearly nine months since the tariffs went into effect for NAFTA ally Canada.

Canada, along with Mexico and the E.U., initially won temporary exemptions to the tariffs; however, the exemptions expired as of June 1, 2018.

According to David MacNaughton, Canada’s ambassador to the U.S., he expects the tariffs to be removed in the next few weeks, Global News reported.

Chinalco Looks to Sell Aluminum Plant

China’s state-backed Chinalco is looking to sell its Guangzhou processing plant for $163.7 million ($1.1 billion yuan), Reuters reported.

MetalMiner’s Annual Outlook provides 2019 buying strategies for carbon steel

According to the report, Chinalco said the plant made a loss of 15.41 million yuan in 2018.