Via Metal Miner Overall, the Aluminum Monthly Metals Index MMI retraced, with a 4.67% decline from June to July. Aluminum prices continued to decline before finding a bottom in mid-June at their lowest level since mid-April. Overall, this reflected a 6.86% drop from June to July. Prices began to move sideways in mid-June, although the bias remains to the downside. U.S.
China stepped up trade with Mexico in recent years, which helped support a steep increase in total exports from the latter nation. This saw Mexico overtake China as the top exporter to the U.S. in 2023. Shipping container exports from China to Mexico rose almost 60% year over year in January 2024. In April, Mexico responded with 5-50% tariffs on numerous products from countries, including China, that have not negotiated a Free Trade Agreement.