Many China Copper Traders Halt US Scrap Imports on Tariff Fears [Yahoo! Finance]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Yahoo! Finance
Most Read from Bloomberg Riyadh Metro Partially Opens in Bid to Ease City's Traffic Jams As Wars Rage, Cities Face a Dark New Era of Urban Destruction The purchases were halted from mid-November because those cargoes are likely to arrive around the time Trump takes office on Jan. 20, the state-owned researcher said in a note, citing its survey of traders. The president-elect has threatened to impose 60% tariffs on all Chinese imports, which would likely spur retaliatory action from Beijing. The world's two biggest economies engaged in a tit-for-tat trade war during Trump's first term, with China imposing duties of 25% on copper scrap from the US. Tensions ratcheted higher on Monday as Washington slapped fresh curbs on China's access to components for chips and AI. Scrap metal was used as a feedstock for about 30% of copper production last year, according to the China Nonferrous Metals Industry Association. Around a fifth of the country's scrap copper imports in the first 10
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