Activity in minor metal markets around the world has slowed while participants await a decision from US President Donald Trump’s administration as to whether a number of minor metals produced by China will be subject to import tariffs.
US buyers and consumers are cautious and reluctant to sign long-term contracts and stocks are on hold while participants await clarity on which, if any, minor metals will be affected by tariffs.
“The thing is, the reward [of buying metals that could be subjected to tariffs] does not outweigh the risk,” a US trader said.
Indium, antimony, bismuth, gallium, germanium and vanadium were each named on a list circulated by the US government, and could face import tariffs of up to 10% or 25%. They could also be excluded from the list and subject to no tariff.
Still, minor metals companies are keeping a cool head in the face of...