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Aluminium premium hits record in US on tariffs, global squeeze
Premiums for consumers buying aluminium on the physical market in the U.S. have hit record highs, driven by steep import tariffs and tight supplies globally. President Donald Trump doubled tariffs on aluminium imports to 50% on June 4 with the aim of supporting investment in U.S. production of the metal, which is used in construction as well as power and packaging. Buyers on the U.S. physical market typically pay the benchmark price on the London Metal Exchange plus a premium that covers costs such as freight and taxes. The duty-paid Midwest premium has surged since June, hitting a record 88.10 cents a lb or $1,942 a ... (full story)