FOCUS: US import tariff increase hits Chinese ferro-alloys, minor metal prices; opinions diverge on long-term effects {UPDATED}

Some Chinese ferro-alloys and minor metals prices wavered in a week when the United States raised the import tariff on a number of commodities from China on Friday May 10.

The US raised import tariffs on $200 billion-worth of Chinese products to 25% from 10% at noon Asia time on Friday. This followed a threat on Sunday by US President Donald Trump to raise tariffs ahead of a new round of trade talks midweek in Washington.
Some ferro-alloys and minor metals markets had already responded earlier this week to the potential tariff rise, and some other markets slumped further on Friday afternoon amid expectations that Chinese suppliers will need to cut their offers to compete in the international market.
Among all minor metals affected by the tariff rise, Chinese bismuth prices fell furthest, with spot offer prices dropping by about 2,000 yuan ($292) per tonne within a day, Fastmarkets understands.

Fastmarkets assessed the domestic Chinese bismuth price at 43,000-45,500 yuan ($6,288-6,653) per tonne on Friday, down by 4.8% from 46,000-47,000 yuan per tonne last week.
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Published

Charlotte Radford

Susan Zou

Ewa Manthey

Huaqing Fu

Amy Lv

May 10, 2019

17:52 GMT

Shanghai