GLOBAL ALUMINIUM WRAP: Premiums rise globally following Trump’s declaration of US import tariff; European market bucks trend

Global aluminium premiums generally ticked higher in the week ended Tuesday March 6, following US President Donald Trump’s announcement that he intends to impose a 10% tariff on aluminium imports into the United States.

With the possibility of re-adjusted trade flows as a result of the tariff, premiums moved to try and represent what the future may hold.
  • US Midwest premium climbs almost 20% on Trump’s tariff talk
  • European premiums decline, but bullish tone persists
  • Asian markets supported by settlement of higher Q2 MJP deal
  • Brazilian premiums continue to ride 232 momentum higher

US premium shoots up following Trump's tariff talk
The US Midwest aluminium premium has shot up following Trump’s reveal of his intent to levy a blanket 10% tariff on the country's imports of aluminium as a result of the Section 232 investigation into the national security impact of such imports.

American Metal Market’s assessment of the US P1020 spot premium put it at 16.5-17.5 cents per lb on Tuesday, up nearly 20% from 14-14.5 cents per lb the previous week, placing the premium at its highest level since April...

Published

Echo Ma

Kirk Maltais

Vivian Teo

Justin Yang

March 07, 2018

03:25 GMT

Shanghai, New York, Singapore, London