Trump first granted the exclusion to Canada in 2019, but a surge in imports of Canadian non-alloyed, unwrought aluminum prompted him to slap the tariffs back on in August, inflaming tensions with Ottawa.
Nickel bulls may have to defer their great EV expectations for a while yet and focus on what is happening in the currently far more significant stainless steel sector.
Zinc price touched a high of $2,596.50 per tonne last week, while lead has been moving in the opposite direction and is now the clear under-performer of the LME.