US Midwest Aluminum Premium Drops 8.2% to 95 Cents as Trump Signals Lower Canadian Tariffs
Updated
Updated · Bloomberg · Aug 20
US Midwest Aluminum Premium Drops 8.2% to 95 Cents as Trump Signals Lower Canadian Tariffs
3 articles · Updated · Bloomberg · Aug 20
Summary
September US Midwest aluminum premium fell 8.2% to 95 cents a pound on Thursday after the Trump administration indicated it would cut tariffs on some Canadian aluminum exports.
October and November contracts dropped even more sharply, each sliding more than 12% following the tariff signal, according to Platts pricing data.
The Midwest premium is the surcharge added to global aluminum benchmarks for delivery into the US region, so lower expected trade barriers quickly reduced that extra cost.