INTL AL CONF: US-Canada tariffs, Covid-19 add to already challenging 2020 - Rio Tinto Aluminium CEO

The now-lifted US tariff on Canadian aluminium and the effect of Covid-19 on the market as a whole made an already challenging 2020 for the aluminium industry even tougher, according to Alf Barrios, chief executive officer of Rio Tinto Aluminium.

The Section 232 tariff applied to US aluminium imports from Canada, where Rio Tinto has a large aluminium smelting presence, was removed just 40 days after the reintroduction of the duty was announced in early August.
Although the tariff has been lifted, a quota system has been implemented for Canadian imports into the United States.
"This is a positive step; I think it will ensure that the North American aluminium supply chain remains strong in the face of wider grave challenges in global conditions in the industry," Barrios said at the Fastmarkets International Aluminium Conference on Tuesday September 22.
Barrios added that the lifting of the tariff has helped instill economic confidence in an uncertain market.

"The impact we see from tariffs is they undermine the market confidence in having...

Gold stocks decline on flat metal and mixed equities

Copper price expected to range from flat to slight gain in 2025

China's gold holdings to central bank reserves still low

China has broad effect on gold market

Gold stocks mixed after previous week's huge gains