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Every U.S. Metal Producer Is Down for 2018, Despite Tariffs

  • U.S. steel and aluminum producers extended drop last month
  • The two top U.S. aluminum makers had worst October since 2008
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The largest U.S. aluminum and steel producers -- companies that were supposed to benefit from tariffs -- have all lost value this year.

Shares of every major U.S. steel and aluminum producer are down for the year, while Century Aluminum Co. and Alcoa Corp., the country’s two biggest aluminum makers, had the worst October since 2008. It was the biggest October drop since 2009 for U.S. Steel Corp., which reports quarterly earnings Thursday afternoon. The sell-off last month outpaced a broader market slump in the worst month for global equities in more than six years.