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Mining Stocks Fall But Probably Not on Trump's Tariffs -- Market Talk

2 Mar 2018 11:06 am

1104 GMT - Mining stocks are down following President Donald Trump's announcement of tariffs of 25% for steel imports and 10% for aluminum, but analysts at Liberum say these measures are unlikely to significantly impact iron-miner stocks. The brokerage says the U.S. isn't relevant to the iron-ore trade balance as most iron miners export to Asia. UBS says continued aggressive curtailment of steel production in China, designed to improve air quality, could see reduced demand for iron ore in the country. At 1104 GMT, shares in Anglo American are down 2.8% at 1,692.60 pence, Glencore shares are down 2.1% at 367.95 pence, and Rio Tinto shares are down 2% at 3,704.50 pence. (oliver.griffin@dowjones.com; @OliGGriffin)
 

(END) Dow Jones Newswires

March 02, 2018 06:06 ET (11:06 GMT)

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