aluminum News Updates

The two economies remain intertwined, and much could be at stake if Trump’s trade war reaches more of the energy, materials and supply chains that the U.S. still relies on Canada to provide.

The U.S. and Canada should stop targeting each other with aluminum tariffs, according to industry groups, and instead forge a common front against China.

The move under discussion would generally halve U.S. tariffs on imports of the two metals, which currently face a 50% rate.

The plan would cut tariffs on imported aluminum to about 25% from 50% for companies that have fulfilled the new requirements and have been approved by the U.S. 

Aluminum availability is under pressure as the U.S. struggles to resolve its war with Iran, while copper traders are bracing for a tariff decision.

The remarks come as the U.S. and Mexico begin formal talks on potential changes to the continental trade pact known as USMCA.

Industrial metals have been whipsawed since the Middle East war erupted at the end of February. They were initially hit by fears of soaring energy costs.

The lightweight metal rose as much as 2.3% on the London Metal Exchange, reigniting a rally driven by supply shortages due to the Middle East war.

Rio Tinto and Century Aluminum raised the premium on aluminum blocks known as billets by about 3 cents a pound, or $110 a ton, above prewar levels.

A senior official cast the changes as necessary to simplify the policy and provide more fairness to businesses grappling with President Trump’s tariffs.