Bahrain’s state news agency Alba confirmed early Sunday that Aluminum Bahrain, also known as Alba, was targeted in the attack by Iran a day earlier. Two people have been slightly injured in this attack and the company is assessing the damage caused to its plants.

Alba and Emirates Global Aluminum have been targeted in response to the attacks on two Iranian steel plants. The IRGC said that both these companies had ties to American military and aviation companies. However, Reuters could not independently verify the IRGC’s claims.

Company declared force majeure
According to a Reuters report, Alba closed three of its aluminum smelting lines, which were 19% of its total capacity, in early March in order to continue business due to the closure of the Strait of Hormuz. Earlier on March 4, the company had expressed its inability to send goods to customers due to the closure of Hormuz and had declared force majeure.

Impact on aluminum trade
Due to the closure of the Strait of Hormuz, aluminum trade is also being affected, which accounts for about 9% of the global supply. This effect has arisen due to the US-Israel war on Iran. Bahrain Steel’s parent company, Bahrain’s Foulhath Holding, on Saturday declared force majeure over its operations due to regional conflict and security.

A statement issued by the company said that the situation in the region has created circumstances beyond the control of the group, which have affected operations and logistics in some parts of the group’s business, but no details were given about the size of the impact.

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Us tarifs on Steel-aluminum: The import duty on steel and aluminum in the US has now been doubled to 50 percent. According to the White House, President Donald Trump has signed it as the latest initiative. However, the rate of tariff over Britain will remain 25 percent as both countries have already reached trade agreement and according to the conditions, tariffs and quota have been determined.

Last week, President Trump, while addressing the workers of the American Steel Plant in Pennsylvania, announced to double the tariff on steel and aluminum. Trump had said that no one will be able to steal your industry.

Now double tariff on aluminian and steel

Under Section 232 of the US Trade Expenses Act 1962, President Trump has doubled the tariff on steel and aluminum from 25 percent to 50 percent. The thing to note here is that during his first presidential tenure, Donald Trump increased the tariff on steel to 25 percent and 10 percent on aluminum. But this year, the tariff on aluminum was increased to 25 percent.

This decision of President Trump will have a great impact on India as about 4.56 billion steel and aluminum were exported to America last year. Indian steel demands were increasing rapidly in American. In such a situation, after this tariff, steel prices will now become expensive in American and it will directly affect the export from India.

India raised answers steps

Here, India has also prepared to impose counter -fees in lieu of American tariffs. In the notice sent to the World Trade Organization i.e. WTO, India has told about the increase in tariff rates on goods imported from America. However, the final decision has not been taken to apply to it yet. Now that Trump has increased the tariff on steel and aluminum, it has to be seen when India increases the tariff on goods imported from America as a response step.

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