US. President Donald Trump on Friday signed a proclamation increasing tariffs on derivative steel products by an additional 25% and boosting duties on derivative aluminum products by an additional 10%.
Brazilian President Jair Bolsonaro said on Friday that US President Donald Trump told him in a phone conversation that his administration will not levy new tariffs on Brazilian steel and aluminum as threatened earlier this month.
British Steel, the country’s second-largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency 30 million pound (US$ 38 million) loan, two sources close to the situation said.
Brazil’s Vale, the world’s largest iron ore producer, posted a record quarterly profit as mineral prices and sales of metals including copper and nickel surged. Net income increased to 6.83 billion USD from 1.6 billion, in the year-ago period, Vale announced Thursday in a regulatory filing.
Argentina’s industrial output climbed 10.3% during January compared to the same month in 2010, according to the Indec national statistics bureau. The volume reported was higher than the one expected by analysts, who had announced an 8.1 percent increase of the Industrial Monthly Estimator (EMI) in January.