Alcoa Sees Higher Aluminum Shipments in 2025 Despite Looming Tariff Threats
- A 25% aluminum tariff would have “quieting effect” on demand
- CEO says we’re ‘weeks away’ from having clarity on tariffs
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Alcoa Corp., the largest US aluminum producer, warned that a threatened 25% tariff on imports of the metal from Canada would have a “quieting effect” on American consumption, despite otherwise strong demand expected in everything from packaging to electrical needs.
The Pittsburgh-based producer said it expects 2025 to have the highest aluminum demand in history, with global consumption to be up by about 2%. But that view, Chief Executive Officer William Oplinger said in an interview, does not include the potential implementation of trade barriers by the US.