Aluminum Slips Ahead of Trump Tariff Decision While Zinc Sinks
- Import curbs could lead to supply gluts in wider market
- Zinc declines for a third day on stronger supply in China
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Aluminum lost ground on Thursday ahead of a likely announcement of U.S. import tariffs, leading analysts to warn the measures could expose American consumers to higher prices and create gluts elsewhere. Zinc tumbled for a third day on signs of stronger supply in China.
Aluminum dropped 0.3 percent to $2,126.50 a ton on the London Metal Exchange, trading near the lowest level this year, after people familiar with the matter said President Donald Trump will announce trade barriers later today to reduce reliance on imports and jump-start domestic production of aluminum and steel.