Rio Tinto Group is imposing surcharges on aluminum shipments it sells to the U.S., a move that threatens to further disrupt a North American market already roiled by import tariffs that are driving up costs for consumers.
The Anglo-Australian mining giant is including the extra charge on orders of aluminum bound for the U.S. citing low inventories, as demand starts to outstrip available supply, according to people with direct knowledge of the matter.
The U.S. relies heavily on aluminum imports as it doesn’t have the capacity to produce enough to meet demand. Canada is its No. 1 foreign supplier, accounting for more than 50% of imports.
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