Alcoa faces major challenges due to tariff policy-Shanghai Metals Market

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Alcoa faces major challenges due to tariff policy

Translation 11:37:18AM Aug 08, 2018 Source:SMM

SMM8, March 8 / PRNewswire-Asianet / Alcoa is seeking to ease the burden of tariffs in the United States. Alcoa supplies products ranging from Coca-Cola's aluminum cans to Boeing's 747 jets. Alcoa filed five applications with the U.S. Commerce Department) on Monday to waive the Trump administration's 10 per cent tariff on imports of light metals. Three of these products are aluminum that is not available to US producers, two of which are used in domestic metal production.

Less than three weeks ago, Pittsburgh-based Alcoa (Alcoa) announced that it would cut its 2018 profit forecast. Harvey (Roy Harvey), chief executive of Alcoa (Alcoa), said in an interview last month that tariffs were a "significant" resistance. The aluminum sheets covered by these requirements will be processed at the Warwick plant in the United States. Tim Reyes (Tim Reyes), president of Alcoa (Alcoa Aluminum), said in an emailed statement, "We are making these requests to ensure that Warwick's plant can meet its commitments. Better contribute at the domestic and export levels. Even if all the aluminum smelting capacity cut in the United States returns to normal production, the United States will still need to import most of its aluminum products. Harvey said Canada should not be the subject of aluminum tariffs in the United States. Alcoa has three important large smelters in the upper reaches of (St. Lawrence River) on the St. Lawrence River, most of which flow into the United States. "everyone agrees with us that Canada will be exempt from aluminum tariffs, but it turns out not to be the case, which is a pretty significant impact on us," Harvey said in an interview with Bloomberg on July 18.

(note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner)

Key Words:  Alcoa  tariffs  aluminium  imports and exports 

Alcoa faces major challenges due to tariff policy

Translation 11:37:18AM Aug 08, 2018 Source:SMM

SMM8, March 8 / PRNewswire-Asianet / Alcoa is seeking to ease the burden of tariffs in the United States. Alcoa supplies products ranging from Coca-Cola's aluminum cans to Boeing's 747 jets. Alcoa filed five applications with the U.S. Commerce Department) on Monday to waive the Trump administration's 10 per cent tariff on imports of light metals. Three of these products are aluminum that is not available to US producers, two of which are used in domestic metal production.

Less than three weeks ago, Pittsburgh-based Alcoa (Alcoa) announced that it would cut its 2018 profit forecast. Harvey (Roy Harvey), chief executive of Alcoa (Alcoa), said in an interview last month that tariffs were a "significant" resistance. The aluminum sheets covered by these requirements will be processed at the Warwick plant in the United States. Tim Reyes (Tim Reyes), president of Alcoa (Alcoa Aluminum), said in an emailed statement, "We are making these requests to ensure that Warwick's plant can meet its commitments. Better contribute at the domestic and export levels. Even if all the aluminum smelting capacity cut in the United States returns to normal production, the United States will still need to import most of its aluminum products. Harvey said Canada should not be the subject of aluminum tariffs in the United States. Alcoa has three important large smelters in the upper reaches of (St. Lawrence River) on the St. Lawrence River, most of which flow into the United States. "everyone agrees with us that Canada will be exempt from aluminum tariffs, but it turns out not to be the case, which is a pretty significant impact on us," Harvey said in an interview with Bloomberg on July 18.

(note: if copyright issues are involved, please contact SMM and we will deal with them in a timely manner)

Key Words:  Alcoa  tariffs  aluminium  imports and exports