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<ul><li>Metal company stocks were rallying up to 5% today on rising prices of the commodity after crude oil prices hit a two-month high.</li><li>Analysts say rise in input cost due to high crude oil prices and low production capacity at sites have increased the prices of metals, which is good for the company.</li><li>Nifty Metal is the top gainer among sectoral index with 2.6% gains.</li></ul>While the outlook for <a href="https://www.businessinsider.in/business/corporates/news/hindalco-is-a-better-bet-than-tata-steel-because-electric-vehicles-need-aluminium/articleshow/88827641.cms">steel makers remains</a> cloudy, the weakening of the dollar is propping up commodity prices including metals as well as crude oil. <br /><br />When the dollar weakens, the same amount of any commodity costs more in terms of dollars. Therefore, prices increase. And, the stocks of metal companies are mirroring that optimism.<br /><br />Nifty Metal is the top gainer among sectoral index with 2.6% gains. Metal prices are said to be rising because of high crude oil prices and lower production with companies, which is boosting the prices upwards.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Metal companies <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 13 change<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Steel &amp;Power<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.2%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NMDC<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Copper<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SAIL<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedanta<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.7%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">APL Apollo Tubes<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.37%<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1%<br /><br /></td></tr></tbody></table><em>(Prices as at 1 p.m)<br /></em><br /><strong>Relation between metal prices and crude oil prices</strong><br />“There are reasons for the rise. One is that metals stocks are always linked to crude oil prices and, right now, they have jumped $84 per barrel, which is probably at a recent high. Usually when crude prices go up, base commodity prices also go up, which is a good thing for metal companies,” said Deven R Choksey, managing director at KR Choksey Investment Managers told Business Insider. <br /><br />Currently, the crude oil prices are at $85 per barrel, trading at a 2-month high after the US oil inventory fell for the seventh straight week to levels last seen in 2018.<br /><br />Note that crude oil is a basic input in the production process and is used to fuel cars and planes for transportation and generate electricity for use in production of goods and services. So any change in the price of oil will impact the costs for the company and hence increase the product price.<br /><br />Another reason for the rise in metal prices is that companies had cut down production in recent weeks because they thought the demand wasn’t strong enough. “Anywhere across the globe particularly Europe production capacities at being pared, they (companies) are not increasing the production be it because of environment issues or covid related restrictions. Many companies have been keeping their production capacity at a lower level, which is resulting in higher prices of the product due to shortage of supply,” added Choksey. <br /><br /><strong>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-shareholders-cheer-share-buyback-and-strong-growth/articleshow/88867953.cms">TCS shareholders cheer share buyback and strong growth</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/wipro-slips-6-on-disappointment-over-poor-than-expected-earnings-performance/articleshow/88870822.cms">Wipro slips 6% on disappointment over poor than expected earnings performance</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/swiggy-will-deliver-stuff-on-tvs-motors-electric-scooters-following-footsteps-of-zomato-amazon-and-flipkart/articleshow/88872404.cms">Swiggy will deliver stuff on TVS Motors’ electric scooters</a>

Metals are mirroring the rally in crude oil and the recent output cuts are helping

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.gettyimages.com/license/929388524">Chip Somodevilla/Getty Images</a></span></p></div><p></p></div></div></p><ul><li><strong>Steel stocks dropped after President Donald Trump announced that he was allowing the Commerce Department to grant "targeted relief" from quotas on imports from South Korea, Argentina, and Brazil<span>.</span></strong></li><li><strong>Steel stocks have been volatile this year amid Trump's tariff policies.</strong></li><li><strong>Watch <a href="https://markets.businessinsider.com/stocks/x-stock?utm_source=markets&amp;utm_medium=ingest">United States Steel</a>, <a href="https://markets.businessinsider.com/stocks/aks-stock">AK Steel</a> and <a href="https://markets.businessinsider.com/stocks/stld-stock">Steel Dynamics</a> trade in real-time here.</strong></li></ul><p> </p><p><span>Steel stocks are getting whacked</span><span> in Thursday trading after President Donald Trump announced Wednesday the Commerce Department would </span><span>"provide targeted relief" from quotas imposed on steel from South Korea, Argentina, and Brazil, and aluminum from Argentina. </span></p><p><span>Here's the scoreboard:</span></p><ul><li><span><a href="https://markets.businessinsider.com/stocks/x-stock?utm_source=markets&amp;utm_medium=ingest">United States Steel</a>: -6%</span></li><li><span><a href="https://markets.businessinsider.com/stocks/aks-stock">AK Steel</a>: -4%</span></li><li><a href="https://markets.businessinsider.com/stocks/stld-stock">Steel Dynamics</a>: -2%</li></ul><p><span>"President Trump has once again shown his commitment to American workers and businesses, protecting our national security from the threat posed by steel and aluminum imports," Wilbur Ross, the Secretary of Commerce, <a href="https://www.commerce.gov/news/press-releases/2018/08/president-trump-signs-proclamation-allowing-steel-and-aluminum-product">in a press release.</a></span></p><p><span>"This proclamation provides the Department the same product exclusion authority for quotas that we already have for tariffs."</span></p><p><span>An existing exemption allows steel companies to apply for product-specific exclusions and avoid tariffs if US companies cannot meet their demand. Under Trump's new directive, companies can be granted quota exemptions but still have to pay a 25% tariff if they had ordered high volumes of steel prior to the quotas being enacted. </span></p><p>Steel stocks have been volatile this year under Trump's tariff policies.</p><p><span>Back in May, steel stocks surged after Trump reiterated his tough stance on imposing 25% and 10% <a href="https://markets.businessinsider.com/commodities/news/us-steel-stock-price-mnuchin-says-china-steel-tariffs-on-2018-5-1025092801">duties on steel and aluminum imported from China</a>, and expanded the tariff lists <a href="https://markets.businessinsider.com/news/stocks/us-steel-stock-price-spikes-trump-readies-tariffs-2018-5-1025986299">to US allies including </a></span><a href="https://markets.businessinsider.com/news/stocks/us-steel-stock-price-spikes-trump-readies-tariffs-2018-5-1025986299"><span>European Union, Mexico, and Canada. </span></a></p><p>Shares of <span>United States Steel are down 23% this year; AK Steel's are down 31% and Steel Dynamics's are up 2%.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/medical-breakthroughs-future-medicine-stem-cell-2018-8">Medical breakthroughs we will see in the next 50 years</a></h3>        <div>                    </div>    </div>

Steel stocks are getting whacked after Trump expands tariff exemptions for 3 countries

The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="http://www.apimages.com/metadata/Index/Trump-Budget-Battle/a3db0ee3bafa49eeb4aebcbcc2042dee/637/0">Manuel Balce Ceneta/AP</a></span></p></div><p></p></div></div></strong></p><ul><li><strong><a href="http://markets.businessinsider.com/stocks/x-stock">US Steel</a> is tumbling after President Donald Trump announced he will pause US tariffs on Chinese goods. </strong></li><li><strong>China is promising to increase its imports of US agriculture and energy goods, much to the White House's pleasure. </strong></li><li><strong>US Steel's stock rallied into the announcement of the tariffs and is falling now that the tariffs have been put on hold. </strong></li><li><strong>Other steel stocks in the US are down as well. </strong></li><li><strong><a href="http://markets.businessinsider.com/stocks/x-stock">Watch US steel trade in real time here.</a></strong></li></ul><p>President Donald Trump just did a 180 on trade with China, and steel stocks are under pressure. </p><p><a href="http://markets.businessinsider.com/stocks/x-stock">US Steel</a> is down 4.77% Monday after Trump touted his revised position on trade with China, announcing the US will put its tariffs on hold. </p><p>In March, Trump announced the <a href="http://www.businessinsider.com/trump-tariffs-taxes-on-imports-of-steel-aluminum-could-be-trade-war-2018-3">US would place a 25% tariff on imported steel from China, and 10% tariff on imported aluminum</a>.</p><p>"China has agreed to buy massive amounts of ADDITIONAL Farm/Agricultural Products - would be one of the best things to happen to our farmers in many years!"<span> </span><a href="http://www.businessinsider.com/trumps-us-china-trade-talks-judged-failure-even-his-supporters-bash-2018-5">Trump tweeted</a>.</p><p>The affirmative but vague repositioning on trade talks includes the US putting tariffs of $150 billion worth of Chinese imports on hold. China is promising to increase its imports of US agriculture and energy products. It previously said it would retaliate by putting tariffs on US agriculture products like soybeans.</p><p>It is not yet clear whether the White House intends to put steel and aluminum tariffs on hold, but steel stocks are getting hit on the assumption those tariffs may be postponed or canceled. </p><p>And US Steel Corporation shares seem to move directly in line with Trump's tariff announcements. US Steel spiked in early March when Trump announced tariffs on China, and one analyst told Business Insider <a href="http://markets.businessinsider.com/news/stocks/trumps-tariffs-could-cause-us-steels-profit-to-double-2018-3-1017608052">the tariffs could make US Steel's operating income "laughably high."</a> </p><p>The price of steel in the US has increased roughly 5%, since Trump's tariff announcement in early March. That's a direct result from the initial tariffs, according to UBS analyst Andreas Bokkenheuser. "A temporary drop in steel imports triggered by Section 232 has supported prices," he wrote in a note to clients.</p><p>"Potential trade deals with China will likely encourage steel imports once more - and, in turn, accelerate a US steel price correction, in our view," he said. "We advise caution on the US steel sector."</p><p><a href="http://markets.businessinsider.com/stocks/nue-stock">Nucor</a>, another steel manufacturer in the US is also off slightly, just over 1%. </p><p>US Steel Corporation is down 5.84% on the year. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/stocks/x-stock"></a><p class="source"><span>Markets Insider</span></p></div><p></p></div></div></p><p> </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/hidden-meanings-behind-childish-gambino-s-this-is-america-2018-5"> Hidden meanings behind Childish Gambino 's "This Is America" </a></h3>        <div>                    </div>    </div>

US Steel is tumbling after Trump does a 180 on trade

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>REUTERS/Brian Snyder</span></p><p class="caption">A worker walks between rolls of steel ahead of a tour by Republican presidential candidate and former Massachusetts Governor Mitt Romney of Gregory Industries during a campaign stop in Canton, Ohio March 5, 2012.</p></div><p></p></div></div></strong></p><ul><li><strong>US steel stocks are jumping Thursday. </strong></li><li><strong>President Donald Trump is reportedly planning to put tariffs on steel and aluminum imported to the US from the EU, Mexico, and Canada. </strong></li><li><strong><a href="http://markets.businessinsider.com/stocks/x-stock">Watch US Steel Corporation trade in real time here. </a></strong></li></ul><p>Shares of US steel manufacturers are jumping in early trading Thursday after the Wall Street Journal reported President Donald Trump is ready to announce tariffs on EU, Mexican, and Canadian steel imported into the country.   </p><p>The tariffs would include <a href="http://www.businessinsider.com/trump-steel-aluminum-tariffs-eu-european-union-2018-5">a 25% tax on steel and 10% on aluminum imported into the US</a>, and that is sending US steel manufacturers higher. Here's the scoreboard:</p><p><a href="http://markets.businessinsider.com/stocks/x-stock">US Steel Corporation</a>: +7.5%</p><p><a href="http://markets.businessinsider.com/stocks/nue-stock">Nucor</a>: +2.7%</p><p><a href="http://markets.businessinsider.com/stocks/stld-stock">Steel Dynamics:</a> +3.1% </p><p>Back in March, when the tariffs were first discussed, <span>Cowen and Company analyst Novid Rassouli told Business Insider they would make<a href="http://markets.businessinsider.com/news/stocks/trumps-tariffs-could-cause-us-steels-profit-to-double-2018-3-1017608052"> US Steel's operating income "laughably high,"</a> and that the company's EBITDA "would be over double what it is right now."</span></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="http://markets.businessinsider.com/stocks/x-stock">Markets Insider</a></span></p></div><p></p></div></div></p>     <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/oneplus-6-android-smartphone-review-2018-5">This $530 Android phone is half the price of an iPhone X and just as good</a></h3>        <div>                    </div>    </div>

Steel stocks spike as Trump reportedly readies to slap tariffs on the US's closest allies

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Sean Gallup/Getty</span></p></div><p></p></div></div></p><ul><li><strong>Steel stocks were down early Thursday.</strong></li><li><strong>In an Oval Office meeting Wednesday, President Donald Trump and the European Commission President Jean-Claude Juncker agreed to work toward "zero" tariffs.</strong></li><li><strong>Prices of steel have been buoyed by a 25% tariff on the metal. </strong></li></ul><p>Steel stocks fell Thursday after President Donald Trump suggested he would backpedal in a trade face-off with the European Union that has sent prices of the metal soaring.</p><p>The US and European Union won't move forward with any additional duties on one another and will work toward "zero tariffs," Trump said following a meeting with European Commission President Jean-Claude Juncker on Wednesday.</p><p>"While we are working on this, we will not go against the spirit of this agreement unless either party terminates the negotiation," he said in <a href="https://www.businessinsider.com/trump-eu-trade-deal-trade-war-tariffs-2018-7">a joint press conference with Juncker</a>. "We also will resolve the steel and aluminum tariff issues, and we will resolve retaliatory tariffs."</p><p>Here's the scoreboard:</p><p><strong><a href="https://markets.businessinsider.com/stocks/x-stock">US Steel Corporation:</a> </strong>-5.78%</p><p><strong><a href="https://markets.businessinsider.com/stocks/nue-stock">Nucor:</a></strong> -1.66%</p><p><strong><a href="https://markets.businessinsider.com/stocks/stld-stock">Steel Dynamics</a></strong>: -2.76%</p><p>As part of broader efforts to rearrange global-trade relationships, the Trump administration announced tariffs of 25% on steel and a 10% on aluminum in March. The European Union, Canada, and Mexico were initially shielded from metal tariffs, but those exemptions expired in May.</p><p>The US has since been in a faceoff with its allies and other major trading partners, who have imposed billions of dollars worth of tariffs on American products.</p><p>As supply concerns send domestic prices of the metal soaring, steel workers have welcomed the tariffs. Trump is on Thursday <a href="https://www.businessinsider.com/ap-trump-touts-trade-win-in-illinois-steel-town-as-others-lose-2018-7?r=UK&amp;IR=T">visiting Granite City Works</a>, an Illinois plant owned by US Steel that announced last month tariffs allowed it to increase production.</p><p>But winners from the trade war have been few and far between, especially in the Midwest. The president's visit to the region will come against a backdrop of embattled companies that are facing financial strain as tariffs raise costs and lower access to foreign markets. </p><p>Several companies, including General Motors and Harley Davidson, cited trade policy concerns as they dimmed their 2018 outlooks in financial reports out this week. On Monday, the Trump administration rolled out a multibillion dollar aid package for farmers and ranchers hurt by protectionism.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/manage-your-boss-navy-seal-work-strategy-2018-6">Why you hold your boss accountable, according to a Navy SEAL</a></h3>        <div>                    </div>    </div>

Steel stocks are getting whacked on optimism for US-EU trade

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="http://www.apimages.com/metadata/Index/Congress-Mnuchin/d0132867237f4179a1486a3659676366/12/0">Carolyn Kaster/AP</a></span></p><p class="caption">Treasury Secretary Steven Mnuchin testifies during a hearing before the House Appropriations subcommittee on budget on Capitol Hill in Washington, Tuesday, March 6, 2018, about "Financial Services and General Government."</p></div><p></p></div></div></strong></p><ul><li><strong><a href="http://markets.businessinsider.com/stocks/x-stock">US Steel Corporation</a> is surging Tuesday after Treasury Secretary Steven Mnuchin said the steel and aluminum tariffs still apply to China. </strong></li><li><strong>On Monday, President Donald Trump said $150 billion worth of tariffs on Chinese imports would be suspended. US Steel shares fell in anticipation the steel and aluminum tariffs were included.</strong></li><li><strong><a href="http://markets.businessinsider.com/stocks/x-stock">Watch US Steel trade in real time here.</a> </strong></li></ul><p><a href="http://markets.businessinsider.com/stocks/x-stock">US Steel</a> is surging Tuesday, up 3.57%, after Treasury Secretary Steven Mnuchin said steel and aluminum tariffs will remain in place for China. The gains have erased the losses that developed on Monday after Trump said <a href="http://markets.businessinsider.com/news/stocks/us-steel-stock-price-tumbling-trump-trade-180-2018-5-1025067310">the US would suspend tariffs on $150 billion worth of Chinese imports</a>. </p><p>Other steel manufacturers are also gaining on the news, with <a href="http://markets.businessinsider.com/stocks/nue-stock">Nucor</a> and <a href="http://markets.businessinsider.com/stocks/stld-stock">Steel Dynamics</a> are both up 1.2%.</p><p>"As it relates to China, the steel and aluminum tariffs will remain enforced," <a href="https://www.appropriations.senate.gov/hearings/review-of-the-fy2019-budget-request-for-the-us-department-of-the-treasury">Mnuchin said at a Senate appropriations committee hearing on Tuesday</a>. "Those were not part of our discussions."</p><p>US Steel's stock has moved directly in line with tariff announcements. When Trump first announced the tariffs in early March, the stock jumped. At the time, Cowen and Company analyst Novid Rassouli told Business Insider that  <a href="http://markets.businessinsider.com/news/stocks/trumps-tariffs-could-cause-us-steels-profit-to-double-2018-3-1017608052?utm_source=markets&amp;utm_medium=ingest">the steel manufacturer's operating income could become "laughably high."</a></p><p>US Steel is down 2.77% this year. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/news/stocks/us-steel-stock-price-tumbling-trump-trade-180-2018-5-1025067310"></a><p class="source"><span>Markets Insider</span></p></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/nobel-prize-winning-economist-oliver-hart-what-milton-friedman-got-wrong-2018-5">A Nobel Prize-winning economist explains what Milton Friedman got wrong</a></h3>        <div>                    </div>    </div>

US Steel is surging after Mnuchin says the steel tariffs are still on for China

<p><div class="KonaFilter image-container display-table lead-image-small"><div><div class="image on-image"><a href="https://www.amazon.com/gp/product/B00008CM6K/ref=as_li_tl?ie=UTF8&amp;tag=biipgf_031918_best-stockpots-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B00008CM6K&amp;linkId=015a8badc52ec57341d2b68e06e7906b" rel="nofollow"></a><p class="source"><span>Amazon/Business Insider</span></p></div><p></p></div></div></p><ul class="summary-list"><li>A top-quality stockpot will last you for the rest of your life and serve as the perfect tool for creating stock from turkey and chicken carcasses, slow simmering your best chili recipe, and for canning projects.</li><li>The <a href="http://amzn.to/2HOdvwT" target="_blank" rel="noopener">Farberware Classic Stainless Steel Covered Stockpot</a> is our top pick because it heats evenly, is easy to clean, and comes with a lifetime limited warranty.</li><li>See more: <a href="https://www.businessinsider.com/best-cookware-set" target="_blank" rel="noopener">The best cookware sets</a> </li></ul><p><span style="font-weight: 400;">Frozen turkey is a loss leader at many supermarkets around the holidays. In our house, we stock up on these birds and celebrate "turkey weeks" well into the spring. We never let the carcass go to waste. With a good stockpot, some vegetables and spices, and a few hours of simmering, you can turn your turkey remains into a stock that beats anything you'd buy at the store. I usually add dumplings and more vegetables and meat to create a delicious turkey and dumpling soup.</span></p><p><span style="font-weight: 400;">Of course, a good stockpot is useful for making any kind of soup, even if you decide to use bouillon. It will also serve you well for large canning projects, cooking for large groups, and much more. Basically, a stockpot is an integral part of any home cook's repertoire. We're here to help you with your buying decision.</span></p><h2><strong>What to look for in a stockpot</strong></h2><p><span style="font-weight: 400;">The most popular material used in the construction of stockpots is stainless steel. However, not all stainless steel is created equal. 18/10 stainless steel is commonly found in top-quality stockpots, and it means there is 18% chromium and 10% nickel in the steel's composition. Steel with a higher nickel content is more resistant to corroding and will last you longer. If you are looking to save money, 18/8 stainless steel will serve you well. But, avoid 18/0.</span></p><p><span style="font-weight: 400;">Stainless steel does not conduct heat as well as other metals, such as aluminum. Therefore, many stockpots have an aluminum disk in the base to help with heat distribution. More expensive options are "tri-ply," which means there are three layers throughout the entire pot: an outer layer of stainless steel, a middle layer of aluminum, and another interior layer of stainless steel. These stockpots tend to be more durable and heat more evenly.</span></p><p><span style="font-weight: 400;">Anodized aluminum is also a popular material for smaller stockpots. Through the electrochemical anodizing process, aluminum bonds with a nonstick material. This produces a pot that has great nonstick properties while conducting heat well.</span></p><p><span style="font-weight: 400;">As part of our research for this guide, we looked at the reviews and ratings from hundreds of experts and buyers. The stockpots we chose to highlight in the following slides are easy to handle, tend not to scorch, and strike an excellent balance between size and functionality.</span></p><h2><strong>Here are the best stockpots you can buy:</strong></h2><ul class="summary-list"><li>The best stockpot overall: <a href="https://www.amazon.com/gp/product/B00004RFK8/ref=as_li_tl?ie=UTF8&amp;tag=biipgf_031918_best-stockpots-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B00004RFK8&amp;linkId=53d46f99bcab03d102496d0f3eae7dee" target="_blank" rel="noopener nofollow">Farberware Classic Stainless Steel Covered Stockpot</a></li><li>The best high-end stockpot: <a href="https://www.amazon.com/gp/product/B00JJOXEQU/ref=as_li_tl?ie=UTF8&amp;tag=biipgf_031918_best-stockpots-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B00JJOXEQU&amp;linkId=b07ee91987ac48c59e1014b1022efce7&amp;th=1" target="_blank" rel="noopener nofollow">All-Clad Stainless Steel Stockpot</a></li><li>The best affordable stockpot: <a href="https://www.amazon.com/gp/product/B000GWK34K/ref=as_li_tl?ie=UTF8&amp;tag=biipgf_031918_best-stockpots-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B000GWK34K&amp;linkId=aed000c086e29ca140857d0a87d8c309" target="_blank" rel="noopener nofollow">T-fal Specialty Nonstick Stockpot</a></li><li>The best stockpot for induction ranges: <a href="https://www.amazon.com/gp/product/B000X1M2QG/ref=as_li_tl?ie=UTF8&amp;tag=biipgf_031918_best-stockpots-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B000X1M2QG&amp;linkId=df79e4660c059208778b39e8c9fb82bc&amp;th=1" target="_blank" rel="noopener nofollow">Update International Induction Ready Stainless Steel Stock Pot</a></li><li>The best stockpot for low-temp simmering: <a href="https://www.amazon.com/gp/product/B00008CM6K/ref=as_li_tl?ie=UTF8&amp;tag=biipgf_031918_best-stockpots-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B00008CM6K&amp;linkId=015a8badc52ec57341d2b68e06e7906b" target="_blank" rel="noopener nofollow">Cuisinart Chef's Classic 12-Quart Stockpot</a></li><li>See more: <a href="https://www.businessinsider.com/best-cookware-set" target="_blank" rel="noopener">The best cookware sets</a> </li></ul><p><em>Updated 10/31/19 by Jada Wong: Updated prices, formatting, and links.</em></p>

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