The US' new tariff quota for the EU will take effect on January 1, 2022, stipulating that the total annual import of non-forged aluminum is 18,000 tons and forged aluminum is 366,000 tons. If the import quota is exceeded, the buyers have to pay a 10% tariff.
At present, European aluminum mills mentioned that how the new import measures in the future will affect the US market remains to be seen. However, the new tariff quota is evaluated based on production capacity in 2018-2019, showing that it does not take into account current increasing demand.
Therefore, the mills are concerned that traders may take advantage of limited quotas to control market prices, at the expense of aluminum manufacturers' interests.
European aluminum market may be affected by new tariffs
4 Nov 2021 16:41 reported by Alston Tsai
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