Week in Review: ITC nixes import duties in aluminum extrusions, interest rates and more

The U.S. is getting closer to the Federal Reserve’s inflation goal. Here’s a look at that news and more from the past week.

On Thursday, reports showed that inflation slowed to a rate of 2.1% year over year in September and almost hit the Fed’s 2.0% goal, based on the headline PCE price index. Nevertheless, as CRU Group notes, the core PCE still increased by 2.7% y/y versus an expectation of 2.6%. Still, the overall report should encourage the Fed to continue cutting rates. That’s good news for metals companies who are looking for lower interest rates to spur greater demand for their products, which circles back to scrap in the end.