Global Trade Tariff War Continued

- Aug 01, 2018-

1. "Anti-American Alliance" meeting to join hands to deal with the increasingly close car tariff war. An international conference against the Trump administration to launch a trade war will be held today in Geneva, Switzerland, with participants being the closest allies of the United States: Japan, South Korea, Canada, Mexico and the European Union. The reason why these countries are "anti-American" is because the US investigation into whether imported cars and parts threaten US national security in May this year may be completed in August, and the White House is likely to add to all imported cars and accessories. % of punitive tariffs. If the steel-aluminum trade war launched by the United States has made many allies eager, a car tariff war involving $560 billion will surely make them tear their faces and throw their fists.

2. Alumina is discontinued or elastic production. The price of bauxite is higher, which also gives the aluminum price a little support. Generally speaking, due to high inventory, the aluminum price is still in the shock range, and the operation should be cautious. It is expected that the price of aluminum will increase to some extent during the peak season of consumption in September.

3. Glencore cuts its lead and coal production forecast. Copper production increased by 8% in the first half of the year. Reuters, London, July 31 - Glencore (GLEN.L) lowered its lead and coal production forecast on Tuesday. However, in the first half of the year, copper production increased by 8% year-on-year, and cobalt production increased by 31% due to the growth of business in the Democratic Republic of the Congo. The company cut its full-year lead production forecast by 5% and cut coal production by 1%. Glencore plans to provide more details when it announces its first half results next week. Glencore's share price has fallen about 16% this year, not as good as its peers, as investors' concerns about the company's geopolitical risks have intensified.