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Steel, Aluminum Shares Rising After President Trump Tariff News

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12/02/2019 | 12:05pm EDT

By Stephen Nakrosis

Shares of some steel and aluminum producers are pushing higher in Monday's market, following news of President Donald Trump's plans to restore tariffs on imports of the metals from Brazil and Argentina.

Around 11:30 a.m. EST, shares of Alcoa had gained 2.08% to trade at $20.77. Century Aluminum shares were up 4.04% at $7.33. Steel Dynamics shares were up 1.51% at $34.24.

United States Steel Corp. (X) shares were up 3.28% at $13.55, and AK Steel Holding shares were trading 6.7% higher at $2.94. Schnitzer Steel Industries shares were up 2.18% at $22.02 on the Nasdaq.

The American depository receipts for Argentina's Tenaris SA were down 1.39% at $20.99 on the New York Stock Exchange, but Brazilian steel maker Gerdau SA (BBG) saw its ADRs rising 2.02% on the NYSE, to $4.05. The ADRs of another Brazilian steel company, Companhia Siderurgica Nacional (SID), were up 3.55% on the NYSE.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AK STEEL HOLDING CORPORATION 0.00%End-of-day quote.0.00%
ALCOA CORPORATION -0.85% 8.21 Delayed Quote.-61.83%
CENTURY ALUMINUM COMPANY 1.24% 4.89 Delayed Quote.-34.93%
COMPANHIA SIDERÚRGICA NACIONAL S.A. 1.65% 8.64 End-of-day quote.-38.77%
EURO / ARGENTINE PESO (EUR/ARS) 0.12% 74.4026 Delayed Quote.10.79%
EURO / BRAZILIAN REAL (EUR/BRL) 0.18% 5.9325 Delayed Quote.33.93%
GERDAU S.A. 6.55% 12.36 End-of-day quote.-38.20%
NASDAQ COMP. 0.43% 9324.587279 Delayed Quote.3.92%
SCHNITZER STEEL INDUSTRIES, INC. -1.34% 14.73 Delayed Quote.-32.06%
STEEL DYNAMICS, INC. -1.33% 24.43 Delayed Quote.-28.23%
TENARIS 0.94% 5.6 Delayed Quote.-44.80%
UNITED STATES STEEL CORPORATION -1.47% 7.37 Delayed Quote.-35.41%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.03% 68.17 Delayed Quote.13.88%
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