Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

The Best Prime Day Travel Deals 2025

June 30, 2025

How to make $100,000 or more and pay no income taxes

June 30, 2025

A Translation Guide To Progressive Slavespeak

June 30, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Tuesday, July 1
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Economic News»US traders snap up aluminium ahead of Trump tariffs
Economic News

US traders snap up aluminium ahead of Trump tariffs

February 22, 2025No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

US metal importers are hurrying to increase their stockpiles of aluminium in anticipation of the upcoming tariffs to be imposed by President Donald Trump next month, causing the premium over London prices to rise.

Aluminium imports, which are widely used in various industries, reached over 580,000 tonnes in January, the highest monthly level since mid-2022, based on data from the US Department of Commerce. This total was about 25% higher than the January average over the past five years.

This surge in imports is in preparation for Trump’s plan to implement 25% tariffs on all steel and aluminium imports on March 12, citing concerns about foreign players with increasing exports undermining US producers. The US currently imports around 80% of its aluminium.

Greg Wittbecker, an independent commodities adviser, mentioned that traders likely pre-shipped some metal ahead of the tariffs, leading to a sudden increase in metal movements. He also predicted that February imports would remain elevated. 

While Canada contributed significantly to the rise in imports, other countries such as the United Arab Emirates, Bahrain, Australia, and South Korea also saw notable increases in aluminium imports last month. These findings are based on preliminary import licensing data and official import statistics from the commerce department.

Some content could not load. Check your internet connection or browser settings.

Aluminium futures prices on the LME reached their highest level since mid-2024 this week, exceeding $2,700, although still below 2022 levels.

The increased US demand has driven up domestic prices, with the Midwest Premium hitting its highest level since 2022 this week at 39 cents per pound, according to Argus Media data.

Traders have reportedly diverted vessels carrying aluminium originally bound for Europe to the US in an effort to beat tariff deadlines, as aluminium buyers in the US rush to secure supplies, causing disruptions in short-term trade flows. This has prompted exporters, especially in Asia, to expedite shipments to the US, according to Kpler, a commodity data firm.

Last month, the Financial Times reported a surge in gold shipments to the US leading to a shortage in London.

Line chart of USD/lb showing The US Midwest aluminium premium has risen to its highest level since 2022

Aluminium stocks in Comex warehouses have dropped to their lowest level since 2019, indicating a trend of traders preparing for the tariffs. Once tariffs are in effect, anyone removing aluminium from these warehouses must pay all taxes and levies, even if the facility is in the US, as the metal is considered to be in “free trade zones” stored on a “duty unpaid” basis.

According to Wittbecker, the aluminium being imported into the US is likely going to non-LME and non-Comex warehouses.

Additional reporting by Ray Douglas

Ahead aluminium snap tariffs traders Trump
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

A Translation Guide To Progressive Slavespeak

June 30, 2025

Dry weather pushes up UK food inflation as harvests suffer

June 30, 2025

Canada Scraps Digital Service Tax On U.S. Tech Giants To Revive Trade Talks

June 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

5 ways to recession-proof your retirement portfolio

August 30, 20240 Views

How climate risk will complicate central bankers’ jobs

October 3, 20240 Views

Aave’s DeFi success cushions AAVE prices amid market crash – More gains likely?

August 7, 20240 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Personal Finance

The Best Prime Day Travel Deals 2025

June 30, 20250
Investment

How to make $100,000 or more and pay no income taxes

June 30, 20250
Economic News

A Translation Guide To Progressive Slavespeak

June 30, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.