U.S. beginning to detain some Chinese aluminum imports, top shipper says [Seeking Alpha]
Alcoa Corporation (AA)
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Source: Seeking Alpha
U.S. beginning to detain some Chinese aluminum imports, top shipper saysFeb. 01, 2023 7:22 PM ETAlcoa Corporation (AA)AMKBYAMKAFAMKBFBy:Carl SurranSA News Editor1 CommentFuntay/iStock via Getty ImagesThe U.S. has started todetain imports of aluminum productsOTCPK:AMKBYU.S. Customs has begun issuing "detentionnotices" for such products, the shipper said in an advisory, adding the action probably would target aluminum used in automotive parts."Companies importing aluminum products, or commodities with aluminum components, should be proactive in ensuring compliance" with the Uyghur Forced Labor Prevention Act, Maersk (The impact on U.S. aluminum markets likely will be small, Bloomberg reported, as the U.S. imports virtually no primary aluminum from China, and less than 24K metric tons/month of value-added products.Due mostly to a rally in industrial metals on China's reopening from COVID restrictions, Alcoa (NYSE:surged 22% so far this year
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News
- What's Hurting The Aluminum Market Should Be Good For Alcoa [Seeking Alpha]Seeking Alpha
- Industrial leader Dag J. Opedal elected to be the new Chair of HydrogenPro ASA [Yahoo! Finance]Yahoo! Finance
- Alcoa raised at Morgan Stanley on cost saving measures [Seeking Alpha]Seeking Alpha
- Alcoa Co. (NYSE: AA) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating. They now have a $36.50 price target on the stock, up previously from $28.50.MarketBeat
- Alcoa Co. (NYSE: AA) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
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