US Midwest premium climbs higher after tariff announcement
Japan premium rises further on higher MJP deals
European premiums soften amid bearish sentiment
Brazilian premiums steady to higher
US Midwest premium ticks up while market digests tariff
The US Midwest aluminium premium has moved up again this week to reach 18.5-19.5 cents per lb on Tuesday March 13, the premium’s highest level since late March 2015.
The premium has now moved up 101% since the start of the year, and has jumped 33% since Trump announced a 10% tariff on aluminium imports into the US.
Market participants have quoted a wide spread in spot business despite a relatively slow spot market, with participants still reluctant to engage the market until there is further clarity concerning the tariff's implementation and impact.
“I think the market is digesting the news,” one supplier said. “I think now the discussion is not [the] actual premium, but...