Aluminum, steel most exposed metals to Trump tariffs, Citi says
A 25% tariff as announced by Trump on Monday would likely cause steel prices to rise by $100 to $150 a short ton, the analysts said.
Fortescue’s (FMG) Cloudbreak iron ore mine in Australia’s Pilbara region has been evacuated as a result of an approaching bushfire.
FMG send staff from the site’s accommodation grounds to the company’s Christmas Creek mine roughly 50 km away.
The company says it’s working to contain the fire and that to date there have been no injuries.
“I know it took a turn for the worst sometime this morning and possibly last night, and started earlier in the week we believe, and it’s slowly crept towards the mine over the course of the week,” said a man from East Pilbara.
“FMG has some very capable people out there working on the fire.”
Western Australia has been battling severe bushsfires as a result of above average temperatures and aridity.
