US Steel And Aluminum Tariffs May Damage The Metal Market

- Oct 25, 2018-

Hydro lowered the global aluminum demand growth forecast for 2018. Norway's Norsk Hydro ASA said on Wednesday that global primary aluminum demand is expected to grow by 3%-4% in 2018, less than the previous expected growth of 4%-5%.


Major WTO members have warned that US steel and aluminum tariffs may damage the steel and aluminum market. The member also revealed that members of the WTO such as the European Union and Japan also stated that the US steel and aluminum tariffs are improper and may damage the stability of the multilateral trading system. Just a few days ago, WTO members hinted that they would like to use the WTO dispute settlement mechanism to determine the legality of US steel and aluminum tariffs. According to the WTO e-mail statement on October 19th, the EU, Canada, Mexico, Norway, Russia and Turkey requested the WTO to investigate the US steel and aluminum tariffs.