BUZZ-Alcoa falls on  forecasting $90 million tariff hit in Q2

Reuters
04-17
BUZZ-Alcoa falls on  forecasting $90 million tariff hit in Q2

** Aluminum producer Alcoa AA.N shares drop 2.8% to $24.35 before the bell after co forecasts $90 million tariff hit in Q2

** Current U.S. duties levied on aluminum imports stand at 25%

** Canadian imports cost almost $20 million in Q1, co says

** Shares rose in post-market trading on Wednesday after Q1 profit beat

** Co said it sources some input materials from Chinese suppliers and expects the current tariffs to hike annual costs by $10 million to $15 million with "no suitable replacement suppliers"

** Up to last close, Alcoa shares recovered 16.4% from an over 4-year low of $21.5 hit last week

** Of last close, stock down 33.6% YTD

(Reporting by Twesha Dikshit)

((Twesha.Dikshit@thomsonreuters.com))

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