US Midwest aluminium premium elevated by strong demand, tariffs, Alcoa CFO says

US Midwest aluminium premiums were likely to stay at elevated levels on continuing strength in physical demand and the continuation of trade tariffs, the chief financial officer of Alcoa has said.

According to William Oplinger, the Midwest premium was currently 27 cents per lb, a situation that was likely to continue provided the current factors bullish remained in place.
“Assuming strong demand and that [the United States’] Section 232 [import] tariffs continue, we think that the Midwest premium should continue to be strong,” Oplinger told Deutsche Bank’s 12th annual global basic materials virtual conference on Wednesday June 9.

“The Midwest premium really reflects the fact that the marginal metal unit is coming from outside North America, and with high shipping prices and premiums around the world...

Published

Andrea Hotter

June 09, 2021

18:47 GMT

New York