INTL AL CONF: Producers condemn tariffs, protectionism

Tariffs and other trade protectionist measures are not conducive to free trade, the chief executives of several major aluminium producers said on a panel in Fastmarkets’ virtual International Aluminium Conference on Tuesday September 22.

Top executives from Alcoa, Aluminium Bahrain (Alba), Hindalco, Norsk Hydro and China Hongqiao participated in the panel, sharing their thoughts on trade protectionism and tariffs, particularly those imposed by the United States on aluminium imports.
US President Donald Trump reimposed his country’s Section 232 tariffs on Canadian aluminium in early August.
Those tariffs were replaced with a hard quota earlier this month, however.
Fastmarkets’ calculation of the aluminium P1020A premium, ddp Midwest, shot up to $0.16-0.17 per lb on August 7, following the announcement reintroducing the tariffs, from $0.11-0.12 per lb previously. The premium softened after the quotas were announced, and was most recently at $0.135-0.15 per lb on September 22.

Alcoa has been at the center of this...

Published

Michael Roh

September 22, 2020

20:15 GMT

New York