Reported about 18 hours ago
Aluminium premiums in the US surged to record levels after President Trump announced he would double tariffs on Canadian metal to 50%. This hike in tariffs comes in response to Ontario's 25% tariff on electricity exported to the US. With Canadian smelters responsible for a significant portion of US aluminium supply, traders expect continued increases in premiums as producers adjust to the new costs. The Midwest aluminium premium jumped nearly 20% recently, reaching 45 cents per lb, amid predictions of rising prices as tariffs affect the market.
Source: YAHOO