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Investing.com -- In response to the newly imposed tariffs by the Trump administration on Canadian imports, Teck Resources (NYSE:TECK) Ltd., a Canadian miner, is considering selling zinc to Asian markets instead of the U.S. This information was shared by the company’s CEO, Jonathan Price, at the PDAC mining industry conference in Toronto on Tuesday.
Teck Resources traditionally sells zinc to the U.S. market. However, due to the new tariffs, the company has been developing a contingency plan for several months, according to Price. As part of this plan, the company has been securing warehousing capacity and seeking to reserve space in ports to facilitate the export of metals to Asia.
Price expressed confidence in the company’s ability to find buyers in the Asian market and adjust prices accordingly.
In addition to these plans, Price also warned that the U.S. tariffs could lead to increased inflation across the mining industry. He further suggested that these tariffs might prompt companies to seek customers in other countries. Price stated, "There is nothing positive about tariffs. It will send inflation up throughout the entire system."
It’s worth noting that the majority of Teck Resources’ copper production is already shipped to Asian markets.
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