- US aluminium premium hits record on US import tariffs
- Global aluminium supply tightens, prices stay elevated
Base metals prices on the London Metal Exchange (LME) remained range-bound d-o-d, with zinc increasing by 0.80% to $3,081/tonne (t). Meanwhile, inventories at LME-registered warehouses witnessed mixed movements, with lead recording the highest decline of 0.74%.
Domestic market overview
In India’s non-ferrous metals markets, BigMint assessed copper armature scrap at INR 877,000/t ex-Delhi, stable d-o-d. Aluminium Tense scrap prices were assessed at INR 19o,000/t ex-Delhi and at INR 185,000/t ex-Chennai, both stable d-o-d.
Other market updates
US aluminium premium hits record high amid tariffs, global supply squeeze
US aluminium premiums have hit record highs as steep 50% import tariffs and tight global supply drive costs higher. The Midwest premium has surged 155% since January to 88.10 cents/lb ($1,942/t), pushing spot prices to around $4,792/t with LME aluminium at $2,850/t. The jump reflects falling US stocks and expectations that tariffs will persist after trade talks with Canada — the supplier of 70% (2.7 mnt) of US imports — were halted. Meanwhile, China’s 45 mnt output cap and lower production elsewhere have created a 1.8 mnt global aluminium deficit this year.
US rejects India’s claim on copper tariff dispute at WTO
The US has dismissed India’s assertion that its 50% tariff on copper products qualifies as a safeguard measure under WTO rules. Washington stated that the tariffs, imposed on 1 August under Section 232 for national security reasons, are not safeguard actions and thus do not justify India’s proposal to suspend duty concessions. India, which exported copper goods worth $360 million to the US in FY’25, had sought WTO consultations in September, arguing that the duties harm its exporters. The US maintains that the tariffs aim to reduce dependence on foreign copper vital for defence, clean energy, and infrastructure sectors.
Leave a Reply