It was reported that the US government exempted the Canadian aluminum producers from import tariffs, which benefited the top largest aluminum steelmakers in Canada, such as Rio Tinto and Alcoa Corporation.
Aluminum was a very important material for lots of industries, such as cars, drinks, military, etc. The US government had canceled the 10% import tariff on Section 232 this May, for aluminum products from Canada.
The estimate by Citi analyst Oliver Nugent for the US aluminum demand this year was around 5.6 million tons, and 70% of them could be satisfied by the tax exemption countries, but all of the aluminum products was affected by the import tariff.
Canadian aluminum companies benefit from US tariff exemption
25 Jul 2019 16:24 reported by Jordan Huang
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