By Connor Hart

Shares of aluminum-can makers Ball and Crown Holdings regained most of their losses by the close on Monday after the U.S. and Mexico agreed to put a 25% tariff on hold for one month.

Ball's stock price finished the day roughly flat, at $55.68, after opening at $54.58. Shares of Crown ended the regular session 0.3% lower, at $87.63, after dipping to $85.41 earlier in the day.

Aluminum imports from China and Mexico make up about 16% of the U.S. market, Jefferies analysts say in a research note, adding that tariffs with either or both countries would likely drive prices higher and hurt demand.

Both Ball and Crown face additional exposure in Mexico, with Ball supplying the majority of Constellation Brands' beer cans and Crown having a leading market share in the country, the analysts wrote.

If the U.S. and Mexico hadn't struck a last-minute deal to delay new tariffs, there would have almost certainly been negative ramifications for both companies, according to Truist Securities analyst Mike Roxland.

News of the delay seemed to ease investors' fears, he added, as some may have taken it as a sign that a longer-term deal is in the works to reduce or eliminate tariffs.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

February 03, 2025 16:52 ET (21:52 GMT)

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