Rio Tinto (RIO) is finding it cheaper to buy aluminum in the US and resell it to customers rather than importing it from Canada post President Trump's tariff on the metal, Bloomberg reported Thursday, citing people familiar the matter.

With Trump's 50% tariff on aluminum in place since June, the mining giant has been forced to curb shipments to US from its Canadian plants and has been buying supplies which are already present in the US to sell to its customers, according to the report.

Rio Tinto's strategy has limits as the US aluminum industry does not produce enough metal to fulfill its domestic demand, Bloomberg said.

Rio Tinto did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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