Steel Dynamics and Nucor Steel rose over 10%, leading the S&P 500 constituents, while the Mexican president awaits Trump's steel and aluminum tariffs
United States Steel Corporation (X) is currently down 0.4%, narrowing its cumulative gain over the past five trading days to 3.1%.
Steel Dynamics is up 10.77%, Nucor (NUE) is up 10.29%, Newmont Corporation (NEM) is up 5.42%, Freeport (FCX) is up 3.98%, leading all components of the S&P 500 index, while Ford Motor is down 4.19%, ranking third from the bottom, General Motors is down 4.32%, and First Solar is down 5.11%.
Mexican President López Obrador stated that she is waiting for U.S. President Trump’s earlier announcement that "on June 4, the steel and aluminum tariffs will be doubled to 50%."
She met with Mexican Secretary of Economy Marcelo Ebrard on June 2 to discuss the (potential) impact of Trump's steel and aluminum tariffs on Mexico
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