US steel and aluminum producers jump as Trump plans additional import tariffs

Century Aluminum

10/02/2025 14:53

(Updates)
    ** Shares of steel and aluminum manufacturers in the United
States climb after President Donald Trump said on Sunday he will
introduce new 25% tariffs on all steel and aluminum imports into
the U.S., on top of existing metal duties
    ** Steelmakers Nucor  NUE.N  up 6.1% and Steel Dynamics
 STLD.O  up 4.5%
    ** U.S. Steel  X.N  adds 3.7%, following on comments from
Japan's Chief Cabinet Secretary Yoshimasa Hayashi that Nippon
Steel  5401.T  is considering a bold change in buyout plan
    ** Roughly a quarter of all steel used in the U.S. is
imported, mostly from neighbours Mexico and Canada or close
allies in Asia and Europe like Japan, South Korea and Germany
    ** An additional 25% tariff would raise steel import costs
by about $150 per ton, according to Citi Research
    ** Aluminum companies Century Aluminum  CENX.O  jumps 12.3%
and Alcoa  AA.N  up 3.2%
    ** Roughly half all aluminum used in the U.S. is imported,
and the vast majority comes from Canada
    ** Asian and European peers fall

 (Reporting by Medha Singh and Rupali Chaudhary)
 ((medha.singh@thomsonreuters.com))