The US Midwest aluminium premium has risen 11 times
in recent weeks, spiking by 2 cents per lb (11.8%) since Trump signed the tariffs into law
with a presidential proclamation on Thursday March 8.
And the Midwest premium could reach as high as 23 cents per lb in the near term - a level high enough to attract supply to the US market, Novid Rassouli, an analyst at New York-based Cowen & Co, wrote in a research note on March 13.
Market participants have voiced mixed reactions to the tariffs, with most seeking further clarity
on how they will be implemented - and how exporters can apply for exemptions.
Initially, only North American Free Trade Agreement partners Canada and Mexico were excluded from the tariff, while Australia has since been added to that list. Others, including Russia and the United Arab...