A fresh trade dispute may arise from the recently imposed anti-dumping tariffs on aluminium imports by the US.
- This is among the biggest trade barrier that has proliferated in the most recent couple of years across the bauxite and aluminium market.
- The duties were initiated in March 2020 at the time of Trump’s administration and got enforced after Rhode Island Governor Gina Raimondo took charge as the US Secretary of Commerce.
- Germany was the leading aluminium sheet exporter to the US in 2019. It was slapped with the highest anti-dumping tariff ranging from 49.9% to 242.8%, followed by Bahrain with a tariff of 4.83%.
- As per the US Census Bureau, the US imported 1.3 Mt of aluminium sheet, plate and strip in 2019. However, the volume was trimmed to 836,000 tonnes last year.
The leading market analysts, including Citi, have revised their price forecast for aluminium and foresees good prospects for the aluminium super-cycle.