GLOBAL ALUMINIUM WRAP: US Midwest premium flat on 232 exemption uncertainty; firm demand supports premiums in Rotterdam, Italy

The downturn of aluminium prices on the London Metal Exchange has allowed for more demand globally, although the uncertainty surrounding US President Donald Trump's next steps on the 232 tariff exemptions could dictate the direction of global premiums for the coming months.

  • Thin spot activity keeps US Midwest premium flat amid 232 exemption uncertainty
  • Higher demand in Europe boosts Rotterdam, Italy premiums
  • Asian markets on divergent paths; US-China trade war in focus
  • Brazilian premiums steady to firmer on supply concerns

US aluminium market flat with focus on 232 exemption deadline
The US Midwest aluminium premium remained unchanged at 18.75-19.25 cents per lb on Tuesday April 3, with spot activity remaining limited while market participants wait to find out if temporary exemptions to the 10% tariff on aluminium imports will continue past May 1.
The P1020 spot market had a quiet start to the week and month with buyers less likely to seek out spot material at the moment, preferring to wait until later in the month.
“You may see the movement and panic at the end of the month,” one supplier said of aluminium buyers.

Some of the market hesitation...

Published

Shivani Singh

Danielle Assalve

Kirk Maltais

Vivian Teo

Justin Yang

April 04, 2018

06:10 GMT

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