Industrial metals: Prices slightly under pressure after Trump speech
by David Fleschen
US President Trump made no significant recent signs in his speech to the New York Business Club yesterday about progress in the US-China trade dispute. He said that a trade agreement could be reached soon, but it also kept the threat. Because if you do not agree, the tariffs would be significantly increased. He also threatened other countries that had treated the US unfairly. In terms of trade barriers, he called the EU "sometimes worse" than China. This does not sound, in our ears, as if US tariffs would be postponed for another six months against the EU, as was rumored yesterday. Trump will have to decide on the car duties soon. Metal prices react to the Trump speech with a slight discount: Copper drops to $ 5,850 a ton, zinc drops to $ 2,450.
Source: Commerzbank Research, Photo: Fotolia