Rising aluminum shipments through the Port of Oswego appear to be reversing the tariff-induced dearth of business it experienced recently, with 2020 looking robust.
According to Bill Scriber, Port of Oswego’s executive director and chief executive officer, the tariffs resulted in major financial losses during the first quarter of 2019. Upon notice of the tariffs’ rescission, the Port pushed considerably to wrestle business back and now 2020 is shaping up to be a strong year.
One aluminum shipload is the equivalent of 200 rail cars, which also carry aluminum ingots to the Port. Scriber added that the Port has returned to its typical aluminum supply chain.
Little Canadian aluminum made its way through the Central New York port and into its yard because of US tariffs, resulting in a near-empty yard as early as six months ago. Now, with the tariffs rescinded, the yard brims with aluminum blocks as the Port prices aggressively.
Novelis, located up the road, uses the aluminum to make Ford truck bodies and cans. The Port has enough supply to last through the duration of winter while the St. Lawrence Seaway closes for shipping.