Canada's aluminium-related stocks climb as U.S. to remove tariffs

Exco Technologies

15/09/2020 19:36

** Canada's aluminium-related stocks gain on news U.S. to
remove tariffs on metal 
    ** The Trump administration has reached an agreement with
Canada to limit imports of raw Canadian aluminium into U.S.,
allowing duty-free shipments of metal to resume retroactive to
Sept. 1  urn:newsml:reuters.com:*:nL1N2GC1F9
    ** U.S. had reimposed 10% tariff on non-alloyed, unwrought
aluminum from Canada in August after surge in imports across
northern U.S. border  urn:newsml:reuters.com:*:nL1N2F82AT
    ** In response, Canada is set to drop its threat to impose
retaliatory sanctions against U.S. aluminum products, a source
directly familiar with matter told Reuters  urn:newsml:reuters.com:*:nL1N2GC1KQ
    ** Steelmaker Stelco Holdings  STLC.TO  up nearly 3% to
C$2.66; aluminium is used for steel making
    ** Distributor of steel products Russel Metals  RUS.TO 
gains 1.4% to C$18.04
    ** Automotive parts maker Exco Technologies  XTC.TO  rises
about 2% to C$6.88
    ** Meanwhile, U.S. firm Alcoa Corp  AA.N , one of the
world's largest producer of aluminium, pares early gains to drop
0.4% on the news 
    


 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))