Alcoa – the largest aluminum producer in the U.S. – has warned of the potential negative impacts on the aluminum industry as the tariffs imposed by the Trump administration take effect, potentially eliminating up to 100,000 direct and indirect jobs in the U.S. Alcoa’s CEO stated that, in his view, having different tariff rates for Canada and the rest of the world is completely unreasonable.

In another development, analysts cited information from RBC United Company Rusal (UC Rusal), a major Russian aluminum company, stating that the EU’s ban on Russian primary aluminum imports will have only a moderate impact on the aluminum market. The ban will be implemented in phases, with up to 275,000 tons allowed for import in one year before a full ban takes effect on February 26, 2026. Another exemption allows up to 50,000 tons of pre-contracted aluminum, signed before February 25, 2025, to be imported until the end of December 2026. This means that European buyers will still be able to purchase up to 275,000 tons of Russian aluminum in 2025.