Chinese steel prices dropped as reports of China easing on production curbs policies for northern provinces surfaced.
South Africa's mining industry is a big contributor to the country's GDP, but a reported growth in the sector did not help improve SA's recession.
Following the decision to place tariffs on steel and aluminum imports, Trump signed a new proclamation that will grant an exclusion from its quotas.
Ivan Arriagada, Antofagasta's CEO, states that copper prices will remain volatile in the upcoming months because of global uncertainty.
Aside from the price drop, the industry is also affected by the trade war between the U.S. and China.
With an ongoing trade war between the United States and China, copper prices reported a 15 percent loss in the last five weeks.
Capstone sold its Minto mine to Pembridge Resources, with the transaction to conclude within this month.
The effects of the sanctions implemented by the Trump administration have started manifesting.
The US steel industry is up for better things this coming third quarter but Trump's tariffs can be a challenge for the workforce.
Japan has notified World Trade Organization about countervailing duties and its plans of taking them up against the US in response to import tariff hikes.