03 NOVEMBER 2015AlCircle.com
U.S. aluminum companies join hands against China's anti-competitive trade practices
Edited by : AL CIRCLE
1 min read
Aluminum companies across the United States have come forward to form a new coalition aimed at fighting trade practices by China they think will cause potential damage to the U.S. aluminum indusrty in as little as eight to nine months.
The coalition holds China responsible for heavily subsidizing its aluminum production that is causing a situation of oversupply in the global market resulting in price fall unlike ever before. The group comprising several aluminium producers is headed by embattled Century Aluminum, which posted a significant quarterly loss of $51.6 million last week and recently cut down production at its Kentucky plant.
The coalition argues that China’s subsidization violates World Trade Organization rules. “As such, USTR should invoke its rights under the WTO and request immediate bilateral talks with China to either remove or eliminate these subsidies or face retaliation,” said coalition spokesman Will Dempster.
The coalition holds China responsible for heavily subsidizing its aluminum production that is causing a situation of oversupply in the global market resulting in price fall unlike ever before. The group comprising several aluminium producers is headed by embattled Century Aluminum, which posted a significant quarterly loss of $51.6 million last week and recently cut down production at its Kentucky plant.
The coalition argues that China’s subsidization violates World Trade Organization rules. “As such, USTR should invoke its rights under the WTO and request immediate bilateral talks with China to either remove or eliminate these subsidies or face retaliation,” said coalition spokesman Will Dempster.
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