Going into this week, focus will remain on US equity markets as investors wait to see whether Friday's selloff will intensify, in which case we could see knock-on price declines in a number of other complexes—including base and precious metals.
The proposed extension would last for one year.
The forced-labor and Brazil 301 actions are aimed more at finished goods supply chains, not raw metals.
News happens fast these days. Here are highlights from May to keep you informed.
A June 1 proclamation expanded the list of equipment products eligible for temporary 15% Section 232 tariff treatment and established an 85% domestic content threshold for products eligible for a 10% rate.
The US is competing with China on advanced technologies, semiconductors and critical minerals, but major metals aren’t getting enough attention, according to a report from the SAFE.
Trade data shows Chinese beverage can sheet imports more than doubled from January through most of May despite tariffs, higher conversion fees, expanding domestic capacity and a weaker US dollar.
Demand totaled an estimated 26.65 billion pounds in 2025, a year marked by an ever-shifting tariff environment, the association said.
Meanwhile, this week, President Trump is in Beijing for a crucial series of meetings with Chinese leader Xi Jinping. Discussions are expected to include trade, the Iran war, technology and agriculture.
The Iran war enters its third month this week with few promising off-ramps materializing for a possible end to the conflict.