Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Donald Trump said he would double tariffs on steel and aluminium imports from 25 per cent to 50 per cent in a fresh escalation of his global trade war. The US president unveiled…
President Donald Trump said Friday that he’s doubling the tariff rate on steel to 50%, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods. Trump spoke at U.S. Steel’s Mon Valley Works–Irvin Plant in West Mifflin, Pennsylvania, near Pittsburgh to discuss investments by Japan’s…
President Bola Tinubu has approved the appointment of Nasir Naeem Abdulsalam as the Managing Director of Ajaokuta Steel Company. The Director of Information and Public Relations in the Office of the Secretary to the Government of the Federation, Segun Imohiosen, disclosed this in a statement on Friday night in Abuja. The statement read: “The appointment…
India is not a major exporter of metals to the US, but any global price shift would surely impact the domestic pricing also, said Naveen Mathur, Director-Commodities & Currencies, Anand Rathi Share & Stock Brokers. We may see a glut with respect to the oversupply, he opined highlighting that the other countries may start dumping…
The Niger government has inaugurated a new rebar (steel rod) manufacturing plant built by Niger Steel Group Company Ltd. The plant, located within the Badaguichiri cement facility in the Illéla Department of the Tahoua Region, 600 kilometres northeast of Niamey, was financed at 2 billion CFA francs. It has an annual production capacity of 20,000…
Dangote Group CEO, Aliko Dangote, has announced that the company will no longer pursue plans to enter Nigeria’s steel industry to avoid being labeled a monopolist. Dangote made this known in a statement on Saturday while addressing journalists at his refinery in Lagos. He explained that the company’s board decided to stay out of…
photllurg/iStock via Getty Images Gerdau (NYSE:GGB) +3.7% in Monday’s trading as J.P. Morgan upgraded shares to Overweight from Neutral with a $6 price target, raised from $5, seeing this year as an inflection point following a very challenging 2023. JPM’s Rodolfo Angele believes Q1 should mark the bottom of Gerdau’s (GGB) Brazil earnings results, expecting…
