From Yahoo Finance: 2025-06-01 21:15:00

U.S. steel and aluminium prices surged after President Trump announced he would double tariffs on imports of the metals to 50%, effective June 4. Shares of foreign steelmakers slumped. The U.S. imported 26.2 million tons of steel in 2024, excluding the EU. Analysts predict higher prices will dampen industrial activity and steel demand. Copper prices also surged. European steelmakers warned of severe impacts on the industry. U.S. steelmakers’ shares climbed, while Asian steel shares fell. South Korea calls for exemption from tariffs during trade talks with the U.S. India expects a major hit on aluminium exports to the U.S.



Read more at Yahoo Finance: US aluminium, steel prices jump, shares drop on Trump’s new tariffs