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 firstname.lastname@example.org