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.
Iron ore exports from Australia’s Port Hedland to China jumped nearly 40% year over year this November, with shipments reaching 22.3 million tonnes from 16.2 million tonnes a year earlier.
November 2013 iron ore shipments from Port Hedland to China were down 11.5% from October 2013.
November 2013 shipments to Japan rose 38% to 2.2 million tonnes and doubled to Korea, reaching 2.9 million tonnes.
Rio Tinto, whose shipments are not included in the data, is “expanding its export capacity by a third to 290 million tonnes from Indian Ocean ports south of Port Hedland on Australia’s west coast,” Reuters reports.
