Alcoa asks for exemption from tariff on imports of Canadian aluminum [Seeking Alpha]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Seeking Alpha
Alcoa (NYSE: AA ) says it has asked the U.S. Commerce Department for an exemption from tariffs on a type of aluminum from Canada the company uses to make cans. Alcoa says no U.S. aluminum producer can meet its specification needs and quality requirements for rolling slabs used at its Warrick, Ind., plant to produce aluminum for can manufacturers. Alcoa says it tried unsuccessfully to buy more aluminum slabs from Century Aluminum (NASDAQ: CENX ), which indicated it did not have the molds to produce 24-inch thick slabs. “Even if all the curtailed smelting capacity in the states was back online and producing metal, the United States would still need to import the majority of its aluminum, and most of it from Canada. We believe that the Section 232 tariffs should be removed from Canada and other fair-trading partners,” says Tim Reyes, president of Alcoa's aluminum unit. Click to subscribe to real-time analytics on AA Now read: What The GDP Report Won't Te
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