Amid escalating trade tensions and a global supply glut, Canada is preparing to introduce new tariff measures on steel and aluminum imports. Prime Minister Mark Carney announced that these actions are aimed at mitigating the risks posed by unfair trade practices and persistent global overcapacity in the metals sector. The announcement comes on the heels of a significant trade policy shift from the United States, where President Donald Trump doubled tariffs on steel and aluminum imports to 50% earlier this month.
Japan’s Nippon Steel Corp. $5401.T has finalized its $14.1 billion acquisition of U.S. Steel Corp. $X after securing approval from the administration of former U.S. President Donald Trump. The companies concluded a conditional agreement that resolved regulatory concerns, allowing the deal, first announced in December 2023, to move forward. The transaction, structured at $55 per share in cash, keeps U.S. Steel’s headquarters in Pittsburgh, maintaining its domestic identity while introducing Japanese capital and management. The agreement closes 18 months after initial terms were established.
The Metals Company $TMC, a leading advocate for deep-sea mining, experienced a sharp stock rally following a strategic equity investment from Korea Zinc $010130.KS. The South Korean smelting giant has agreed to inject $85.2 million into TMC in exchange for 19.6 million common shares priced at $4.34 each. The announcement, which came amid intensifying U.S. efforts to decouple from foreign critical mineral supply chains, underscores growing institutional confidence in unconventional resource extraction.
A recent report by the nonprofit Swissaid has revealed a massive discrepancy in Ghana’s gold trade data, exposing the country to an estimated $11.4 billion in lost revenue over a five-year period due to unregulated gold smuggling, primarily to the United Arab Emirates (UAE).
In a landmark decision reshaping the global steel industry, former U.S. President Donald Trump has approved Nippon Steel’s $5401.T $14.9 billion acquisition of U.S. Steel $X. The move concludes nearly 18 months of regulatory scrutiny, labor union pushback, and national security evaluations.
Asian equity markets tumbled in early trading on Friday, led by a sharp selloff in U.S. futures, following reports that Israel carried out a military strike on Iran. The sudden escalation sent oil prices surging and triggered a wave of risk aversion among investors, pushing capital into traditional safe havens like gold and the Swiss franc (CHF).
European equities opened sharply lower on Friday as geopolitical tensions escalated following Israel’s early morning strikes on Iranian territory. The broad-based STOXX Europe 600 $^STOXX index fell 1%, with red dominating across nearly all sectors. Only the energy complex, buoyed by rising crude prices, remained in positive territory. The intensification of conflict in the Middle East renewed investor anxiety, triggering a defensive rotation away from risk assets. Equity markets across Europe reacted swiftly to the overnight developments, reflecting heightened sensitivity to geopolitical shocks in a macro environment already challenged by interest rate uncertainty and subdued economic momentum.
Gold $XAUUSD prices climbed to their highest level in a week on Thursday, supported by a resurgence in Middle East tensions and cooler U.S. macroeconomic data, which reignited market expectations for Federal Reserve rate cuts. The yellow metal continues to serve as a safe-haven asset amid geopolitical instability and signs of a slowing U.S. economy.
China has issued temporary rare earth export licenses to suppliers working with major U.S. automakers, including General Motors $GM, Ford $F, and Stellantis, providing short-term relief as the electric vehicle (EV) industry navigates continued uncertainty in global supply chains.
The proposed $14.9 billion acquisition of U.S. Steel by Japan’s Nippon Steel Corp. has reached a critical juncture, as both the Japanese firm and the Trump administration jointly petitioned a U.S. appeals court to extend an ongoing judicial pause. This move comes as the parties seek more time to finalize a deal subject to national security scrutiny. The acquisition, first announced in late 2023, has since become a flashpoint for broader debates on foreign ownership of U.S. strategic assets.
The anticipated $14.9 billion acquisition of U.S. Steel $X by Japanese giant Nippon Steel Corporation $5401.T is moving closer to fruition, as Mexico’s antitrust regulator, Cofece, is expected to resume the review of the deal this Thursday. This development removes one of the final regulatory barriers to the merger, which was initially announced in December 2023. Nippon Steel’s acquisition aims to further consolidate the global steel industry amid shifting market dynamics and increasing pressures on supply chains.
Laopu Gold Co. $6181.HK has attracted significant attention in the financial community after its stock price skyrocketed to an unprecedented 1000 Hong Kong dollars (approximately USD 127). This rare and remarkable achievement underscores the growing allure of Chinese luxury brands but raises questions about sustainability in light of soaring prices that might deter smaller investors.
