Steel and Aluminum Stocks Fall, Automakers Gain After Reports of Tariff Pullback
Shares in U.S. steel and aluminum producers fell after reports that the Trump administration is considering whether to narrow the scope of import taxes on the metals. Steelmakers Nucor, Steel Dynamics and Cleveland-Cliffs all declined 3% or more Friday, following the reports by the Financial Times and Bloomberg, before clawing back some losses. Century Aluminum skidded 7.4%.
Shares in U.S. steel and aluminum producers fell after reports that the Trump administration is considering whether to narrow the scope of import taxes on the metals. Steelmakers Nucor, Steel Dynamics and Cleveland-Cliffs all declined 3% or more Friday, following the reports by the Financial Times and Bloomberg, before clawing back some losses. Century Aluminum skidded 7.4%.