EU Places Tariffs on Chinese Steel, Alcoa Inc. Gets Gov’t Automotive Aluminum Loan
Today in MetalCrawler, Sherritt International gets another executive, Alcoa is now in the efficient automotive production business and the EU is imposing tariffs on Chinese Steel.
Sherritt Hires ArcelorMittal Canada Exec.
Sherritt International Corp. has named ArcelorMittal Mining Canada President and CEO Steve Wood as its new COO effective from April 27.
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Wood will oversee Sherritt’s operations in Canada, Cuba and Madagascar, including the environmental, health and safety, sustainability, technology, engineering and marketing functions.
Alcoa Gets a Gov’t Loan For Efficient Vehicles
The US Department of Energy has offered a conditional commitment to lend Alcoa Inc. $259 million to expand automotive aluminum sheet production capacity at the supplier’s Tennessee factory, reviving a long-dormant loan program to support the development of energy-efficient vehicles.
The funds will finance most of the costs of a $275 million expansion project already under way at the plant, where Alcoa is converting capacity previously used for making aluminum cans to produce high-strength aluminum for automakers. The project began in 2013 and is expected to add 200 permanent jobs after its mid-2015 completion, plus an additional 400 jobs during peak construction, the company and the DOE said.
EU Imposes Anti-Dumping Duties on Chinese Steel
The European Union will impose anti-dumping duties from Thursday on imports of cold-rolled flat stainless steel from China and Taiwan, according to a notice on Wednesday in the EU’s Official Journal.
The EU will apply tariffs of up to 25.2% for sheet, coil and strip imports from China and up to 12 percent for Taiwanese product, following a complaint lodged in May 2014 by the European steel producers association, Eurofer.
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