US could impose 23.5% duty on Chinese and Russian aluminum

Things could heat up on the trade war front next week.

Bloomberg headlines say the US Commerce Department has recommended 7.7 percent aluminum import tariff. Further, it wants a 23.5 percent duty on Chinese and Russian aluminum. Also, it is reportedly calling for aluminum quota at 86.7 percent of exports. 

Shares in Alcoa and other major aluminum producers are buoyed on the back of tariff news.