Emirates Global Aluminum decided to postpone the IPO

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The company from the United Arab Emirates, Emirates Global Aluminum, decided to postpone the IPO, resulting from unfavorable market conditions. However, the company postponed the initial public offering due to the import duties imposed on the US aluminum, Bloomberg writes according to informed sources. Since June 1, the US has introduced 25% import duties on steel and 10% on aluminum. Emirates Global Aluminum accounts for 4% of the world's aluminum. The company exports 90% of the country's aluminum.

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