【SMM Aluminium Flash News】US aluminum premium hits record high due to tariffs and global supply shortages.

Published: Nov 11, 2025 15:26

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The premium for aluminum in the US spot market has hit a record high, impacted by high import tariffs and tight global supply. In early June, US President Trump doubled tariffs on aluminum imports to 50% to support investment in US aluminum production. Buyers in the US spot market typically pay the benchmark price on the London Metal Exchange, plus a premium to cover costs such as freight and taxes. Since June, the premium for aluminum in the US Midwest has surged, reaching a record high of 88.10 cents per pound (or $1,942 per ton) last Friday. With an aluminum price of $2,850 per ton, US spot market buyers would pay $4,792 per ton. At $2,850 per ton, the US aluminum import tariff amounts to $1,425 per ton, up from approximately $560 per ton at the beginning of the year. Consulting firm Harbor Aluminum stated that the price surge is also attributed to declining US aluminum inventories and strong market expectations that the tariffs will be permanent, as Canada will not receive any exemptions after Trump halted trade negotiations with Canada in October. Data from Trade Data Monitor shows that the United States imported more than 2.7 million tons of aluminum from Canada last year, accounting for 70% of its total imports.

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