Category: Trade Policy and Tariffs

Aluminum markets remain in flux as the US-Israeli attack on Iran enters its second week.

A potential Strait of Hormuz disruption threatens Gulf aluminum exports at a time of tight US and European supply conditions.

Based on our experience of watching previous conflicts, we believe investors tend to have a rather dispassionate view of conflagrations as long as there is no potential impact on oil flows. Although some oil producers have voluntarily curbed shipments through the Gulf, they might resume them once things settle down.

Executives said the company was not materially exposed to changes in the prices of primary aluminum since it operates a pass-through business model. But other metal costs have come into play.

Century Aluminum posted lower fourth-quarter shipments due to an Iceland outage, while outlining Mt. Holly restart progress, Oklahoma developments and a 2026 shipment reduction.

The US International Trade Commission issued an affirmative preliminary determination that imports of van-type trailers and subassemblies from Canada, China and Mexico are materially injuring the domestic industry, advancing the AD/CVD investigations while scope and product disputes continue.

The new tariff is expected to be enacted over the next several days using Section 122.

Rio Tinto reported steady attributable aluminum production in 2025, higher segment EBITDA and changing exposure to value-added products and Midwest-exposed pricing.

The US Supreme Court may issue a decision Friday on the tariffs President Trump imposed under the International Emergency Economic Powers Act. Or maybe next week.

Emissions rules, production limits and material substitution are reshaping steel and aluminum use in North American vehicles.