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US aluminum prices break away as tariffs collide with global supply strain

Source: AL Circle Jan 27, 2026 17:40

American buyers are now to pay a 68 per cent premium over the London Metal Exchange (LME) aluminum price to get physical metal. This is the result of Trump's increasing import tariffs from 10 per cent to 25 per cent back in March and then ramping them up to 50 per cent in June.

The premium for physical delivery in the US Midwest is now traded at an additional USD 560 per metric tonne above the implied tariff cost, indicating a total aluminum price increasing more than USD 5,000 per tonne. The country is now grappling with a shortage of a metal necessary for

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