18 August 2025 – The US government has announced that it will expand US Section 232 tariffs on steel and aluminium to several hundred products. The changes are set to take effect today, Monday. Following the contract change on the commodity exchanges, base metals are showing moderate sideways movement today.
After contract change: Base metals move sideways
After the contract change for base metals on the SHFE and LME commodity exchanges last Friday, the important industrial commodities started the week with moderate sideways movement.
Nikkei 225 at new record high
Asian stock markets started the week on a positive note. The Nikkei 225 in particular gained ground, rising to a new high of more than 43,714 points. The Indian Nifty 50 also rose by just under 1.2%.
Expansion of US Section 232 on steel and aluminium
Over the weekend, the US government announced a comprehensive expansion of existing Section 232 tariffs on steel and aluminium. Several hundred products are affected, including canned condensed milk, certain tractors and metal cutlery.
For these products, the steel and aluminium tariffs under Section 232 of the Trade Expansion Act of 1962, amounting to 50%, apply to the steel and aluminium content. The non-steel and non-aluminium content will continue to be subject to reciprocal and other applicable tariffs.
According to US information, the tariffs will take effect today, Monday, 18 August 2025, even though official publication in the Federal Register is still pending.
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