The U.S. International Trade Commission will investigate the role of China and other big metal producers around the world in driving overproduction, which has contributed to dramatic price declines for aluminum on global markets.
Weak prices and intense foreign competition have in turn led to a wave of smelter shutdowns and layoffs in the U.S. aluminum industry…
A federal agency will be looking into the whether market manipulation is taking place in the aluminum industry.
The U.S. International Trade Commission announced Wednesday, April 6, that it is launching an investigation to examine the U.S. aluminum industry and global aluminum trade. The study will include a public hearing as well as research into recent trade trends and the factors that increased supply and drove down prices in recent months.
The drop in aluminum prices is one factor that led Alcoa to announce the curtailment of the Intalco Works aluminum smelter near Ferndale. The curtailment is scheduled to take place at the end of June, laying off around 465 workers…
U.S. Rep. Tom Reed is calling for an investigation into questionable trade practices by China and other countries in the aluminum industry.
Reed, R-C-I-Corning, recently signed on to a letter requesting an investigation over the dumping of aluminum into world and U.S. markets. The call for an investigation comes amid accusations by the U.S. aluminum industry that unfair trade practices are undercutting domestic manufacturers.
The letter is urging Kevin Brady, chairman of the Ways and Means Committee, to appeal the U.S. International Trade Commission to begin the investigation, but it is unclear whether the chairman will take up the cause.
“When China cheats, we’re going to call them out on it and we’re going to hold them accountable,” Reed said. “What I’m looking for is a fair, level playing field upon which our American workers will win every single day. I say to China, enough is enough.”…
NEW MADRID, Mo. – Noranda Aluminum announced Monday they have initiated court-supervised restructuring under Chapter 11 of the United States Bankruptcy Code. Noranda has taken this action to have additional time and financial flexibility to evaluate options for its various business operations.
There has been a great deal of discussion about a potential legislative deal between Noranda and its energy provider Ameren Missouri. In light of the recent industrial incident and Monday’s bankruptcy filing, it appears that a legislative solution is the only way to maintain the employer’s presence in the bootheel…
Copper and aluminum prices may fall more than 10% by year’s end amid ongoing weakness in Chinese demand that’s unlikely to show any recovery in 2016, according to Goldman Sachs Group.
The bank lowered its 12-month outlook for copper on the London Metal Exchange to $4 000 a metric ton from $4 500 a ton, and cut its aluminum forecast to $1 350 a ton from $1 550 a ton, analysts including Max Layton wrote in a note dated February 8.
“We now anticipate no material recovery in Chinese metals demand growth in 2016,” the analysts wrote. China’s transition from metals-intensive, investment-led growth “is likely to be permanent,” they said, while also citing an overhang of property inventory and the country’s high debt levels as challenging for demand in the world’s top commodities consuming nation…
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ANTI-CHINA ALUMINUM GROUP MAKES ELECTION APPEAL: The U.S. aluminum industry organized under the “China Trade Task Force” is continuing its campaign to combat China’s overproduction of aluminum, this time focusing on presidential candidates. The group released a new online ad this week on the issue, which will go up on TV early next week in early primary states.
“Illegal Chinese aluminum subsidies are destroying the lives of tens of thousands of hardworking Americans who are losing their jobs across the country. And at a time when our nation’s presidential candidates profess a need to ‘get tough on China,’ they are suspiciously silent on how to combat Chinese job hacking,” China Trade Task Force Executive Director Will Dempster said in a statement.
The group argues that Chinese government subsidies are fueling an overproduction of aluminum that is undercutting prices and threatening to put U.S. producers out of business. Watch the ad here: http://bit.ly/1StU8fZ…
The U.S. Department of Commerce has set a new deadline of Feb. 22 to decide whether to investigate allegations that a Chinese aluminum extruder evaded U.S. import duties, a spokesman said on Tuesday.
* New deadline comes after Commerce Dept. asked Aluminum Extrusions Fair Trade Committee to re-file initial petition as several separate cases.
* Previous deadline had been Jan. 21…
Visiongain assesses that the global aluminium market will reach $93.72bn in 2016. And global aluminium production is projected to be 57.77 million tonnes in 2016.
Visiongain’s 295 page report keeps you informed about the future prospects for the aluminium industry. Stay ahead of your competitors. Gain that competitive advantage.
This report answers questions such as:
– How is the global aluminium market evolving?
– What is driving and restraining the aluminium market dynamics?
– How will each of the aluminium submarkets grow over the forecast period and how much revenue will these submarkets account for in 2026?
– How will the market shares for each of the aluminium submarkets develop from 2016 to 2026?
– Which individual technologies will prevail and how will these shifts be responded to?
– How will political and regulatory factors influence the regional markets and submarkets?
– Will leading national aluminium markets broadly follow the macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
– How will the market shares of the national markets change by 2026 and which geographical region will lead the market in 2026?
– Who are the leading players and what are their prospects over the forecast period?
– What are the predictions for M&A activity, consolidation for existing players and the potential prospects for new market entrants?…
Presidential candidates from both sides of the aisle share at least one thing in common: they all agree that China is flouting trade rules and killing American jobs. Donald Trump and Hillary Clinton, polling leaders in their respective races, have called for the U.S. to stand up to China’s unfair trade practices to protect U.S. workers. I agree and we must start now.
Thousands of U.S. aluminum workers are losing their jobs as a result of China not playing by the rules. My company, Century Aluminum, one of the largest aluminum producers in the United States, is one of the victims…
WASHINGTON, DC – November 18, 2015 – The China Trade Task Force (CTTF), a leading voice in protecting more than 10,000 American aluminum job that contributes $6 billion in U.S. economic output each year, today announced the results of a national survey that found that Americans consider unfair trade and market manipulation tactics by foreign governments, such as those orchestrated by China, a bigger threat to the U.S. economy than cyber hacking.
The survey, conducted by Morning Consult, also found overwhelming public support for a domestic aluminum industry currently threatened by illegal Chinese subsidies and market manipulation. That support stems from a 92% majority of Americans that consider it “important for the United States that American companies are able to produce materials such as aluminum and steel here in the United States,” and an 83% majority that support “requiring the U.S. government to purchase American-made aluminum and other metals when building military hardware.”
“There is no question that we have a hacking problem when it comes to China,” said CTTF Executive Director Will Dempster. “But today’s survey makes clear that it is not Beijing’s cyber hacking, but China’s job hacking tactics that people are most concerned about, and that Washington needs to do more to stand up to Beijing during our bilateral negotiations,” he continued.
The survey, which polled 2001 registered voters November 13-16 and can be found in full on the CTTF website, also gave presidential candidate Donald Trump a 7-point advantage over Democratic frontrunner and former Secretary of State Hillary Clinton when it comes to protecting America from “unfair Chinese trade behavior.”
How important is it for the United States that American companies are able to produce materials such as aluminum and steel, here in the United States?
Do you support or oppose requiring the U.S. government to purchase American made aluminum and other metals when building military hardware?
Which of the following is a bigger threat to the United States economy?
Who do you trust more to protect the United States from unfair Chinese trade behavior?
Today’s survey comes on the eve of a CTTF roundtable event at the National Press Club in Washington, D.C. that will examine the impact of China’s global market manipulation and illegal subsidies are impacting thousands of American aluminum workers and tens of thousands of other workers that support U.S. infrastructure.
Former U.S. Senate Majority Leader Trent Lott will join Century Aluminum CEO and President of Michael Bless and Former Under Secretary for International Trade at the Department of Commerce Grant Aldonas. Additional information on the 10:00 AM ET event, including a link to a live steam can be found at: http://chinatradetaskforce.com/an-exciting-invitation-china-trade-task-force-panel-discussion/ Continue reading “National Poll: Americans Consider Unfair Trade Practices that Kill U.S. Jobs Bigger Threat than Cyber Hacking”
