Rio Tinto has hired UBS AG to explore a possible initial public offering on the Australian Securities Exchange after planned trade sales came up short.
Aluminum Mining News
Donald Trump is already taking up a lot of Justin Trudeau’s bandwidth. Steel tariffs sent it to another level.
German Chancellor Angela Merkel said Europe must be ready to respond to the unilateral imposition of trade tariffs by the United States but she first hoped for talks on the issue.
Trump has also demanded concessions from the European Union and has threatened to hike tariffs on auto imports from Europe.
Fall followed news that a top economic advisor to the Trump administration had resigned, stoking fears of a trade war and knocking down the dollar.
Europe and the IMF urged Donald Trump on Wednesday to step back from the brink of a trade war, after the resignation of his economic adviser emboldened those encouraging him to push ahead with tariffs on imported steel and aluminium.
Norsk Hydro ASA to resume full operations at its unit Hydro Alunorte, a court said, in the latest setback after allegations it had contaminated water in the area.
BHP chief executive officer Andrew Mackenzie believes US President Donald Trump’s plans for steel and aluminum tariffs will harm the global economy.
Trump said Canada and Mexico could avoid planned steel and aluminum tariffs if they ceded ground in talks on a new NAFTA trade deal.
Crops, meat and energy trade in both directions across the Canada-US border, making it difficult to retaliate against US products in those industries.
It’s said that in China, a new skyscraper is built every five days.
Canada, the biggest foreign supplier of steel and aluminum to the United States, quickly pledged to retaliate if necessary.
U.S. President Donald Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, after his plan to put tariffs on imports of steel and aluminium triggered global criticism and a slide in world stock markets.
China has indicated it could retaliate against US steel tariffs by targeting imports of US agricultural commodities.
The proposed acquisition also includes an offer for Rio’s 53% stake in the Aluchemie anode plant in the Netherlands and its 50% share in the Alufluor aluminum fluoride plant in Sweden.
The Commerce Department last week revealed its import restriction options for Trump, including a 7.7% global aluminum tariff on products from all countries.
Asia’s No.1 carmaker has developed a magnet that reduces dependence on neodymium, a key rare earth metal used in the world’s most powerful batteries for electric vehicles.
Base metals should continue to do well in 2018 along with the US steel industry, though American coal will continue to lose ground to natural gas.
Some U.S. lawmakers and steel and aluminum users have urged caution in any restrictions to avoid disruptions or price spikes in the raw materials.
The administration wants to identify new domestic sources of critical minerals and increase domestic exploration, mining and recycling.
Some lawmakers urged him to save steel and aluminum producers in their states, but others urged caution because higher prices would hurt manufacturers.
President and chief operating officer Mike Frasersaid company has received a number of offers for the assets, which it up for sale in November last year as part of a shift away from coal.
The Commerce Department confirmed it submitted results of national security investigation into aluminum imports that could lead to broad import restrictions.
Aluminum Corp of China, the country's biggest state-run aluminium firm, says 2017 profits rise more than tenfold, without providing a profit figure.
The Trump administration’s condemnation of cheap Chinese aluminum is helping resolve overcapacity in China even before any measures are implemented.