All American Metal Act
NEUTRALThe All American Metal Act (HR6827) would expand the 45X advanced manufacturing production credit to include high-purity recycled copper. The bill is in early legislative stages (referred to Ways & Means) and does not appropriate funds. Pure-play copper recyclers like $RSR and $HWM are the direct structural beneficiaries, but the tax credit mechanism has no explicit funding authorization amount. Market data shows a sharp 7-day selloff in copper stocks $FCX (-7.4%), $SCCO (-7.58%), and $RIO (-2.39%) despite strong 30-day gains, reflecting broader macro caution rather than legislative dynamics.