Steel wire rod (mesh quality) export, fob main port Latin America, $/tonne

Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.

Steel market participants in both the North and Latin American markets are keeping tabs on the impact of trade relations with China in the aftermath of Donald Trump’s victory in the 2024 US presidential elections.

Donald Trump has previously said he plans to repeal the Inflation Reduction Act (IRA), at least partially, and rescind its unspent funds.