Alcoa (AA) CEO says planned US aluminium tariffs is "bad for the aluminium industry in the US and is bad for American workers"; "will destroy about 20k direct US aluminium industry jobs"; "could lead to 80k indirect jobs in US being affected"
- Co. is lobbying Trump administration to give tariff exemption to Canadian aluminium.
- Unsure if co. would restart US aluminium facilities given their age, uncertainty on how long tariffs could be in place.
- Very had to make an investment decision, even on something like a restart, without knowing how long the tariffs will last.
- Would consider restarting US aluminium facilities if could find cheap power for a longer period of time.
- Any end to Ukraine-Russian conflict could affect aluminium trade flows, likely fuel European imports of Russian aluminium.
- There are opportunities for the global aluminium industry to consolidate.
25 Feb 2025 - 14:51- Metals- Source: Newswires
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