Highly anticipated meeting between the two leaders, will it matter?
The much-anticipated meeting between President Trump and China leader Xi Jinping at the G20 this weekend in Argentina has been looked at for clarity regarding trade. The hopes of a significant trade agreement between the two global leaders is likely too optimistic but the fact that they are meeting may spur further talks and result in some kind of deal down the road. The commodity market is currently in a wait and see mode as prices remain flat today but any word, positive or negative, will certainly impact the markets. For us, scrap prices are all tied to commodity spot prices, like aluminum, copper, nickel, etc. Let’s see what happens this weekend and see if the prices do indeed make some significant moves.