European aluminium premiums steady following removal of Section 232 duties on Canada

Market participants saw little immediate change to aluminium premiums in Europe on Monday May 20 following the US government’s removal of its 10% Section 232 tariff on aluminium imports from Canada and Mexico at the end of last week.

Fastmarkets assessed the Rotterdam P1020 duty-unpaid in-warehouse premium at $85-90 per tonne Monday, unchanged from last Friday. The duty-paid premium was assessed Friday May 17 at $140-150 per tonne. The steadiness in Europe comes as a contrast to the US market, where an anticipated inflow of now duty-free Canadian metal is expected to pressure the US premium lower. Fastmarkets on Friday assessed the P1020 Midwest premium at 18.75-19.25 cents per lb, but some participants expect it to drop 3-5 cents per lb in the near term. The Midwest premium will next be assessed Tuesday May 21. In Europe,...

Published

Justin Yang

May 20, 2019

16:20 GMT

London