Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 13.5-15 cents per lb on Friday, up by 5.6% from 13-14 cents per lb previously, where it had held since November 3.
Recent spot deals have been reported at prices above the current premium level, while discounts have faded from the market.
“The market’s strong. I can tell you discounts are very slim,” one trader said.
Meanwhile, import flows of primary aluminium from Canada have slowed significantly, squeezing supply in the US market.
“Canadian smelters are afraid of potential tariffs. So they’re exporting more billet instead of primary, and the...