US Midwest premium logs record jump after Canada tariffed
- Record spike in Midwest premium after reintroduction of US tariffs on Canada.
- Rotterdam flat while participants watch tariff developments.
- MJP steady ahead of quarterly negotiations.
- Brazilian premiums recover on increased buying interest.
Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US
at 16-17 cents per lb on Tuesday, unchanged since it climbed to this range on August 7, but up by 5 cents (43.5%) from 11-12 cents per lb on August 4.
The premium’s jump on August 7 was the largest upward movement for the premium since Fastmarkets began assessing the price in 2003. The current range is now at its highest since mid-November 2019.
Small-tonnage deals were heard within the current assessed range. Some large-tonnage deals were also heard below that range, but most participants did not see those premium levels as being repeatable.
Offers and valuations of...