US Aluminum Premium Tops $1 a Pound for First Time

The regional premium for aluminum delivered to the US market climbed above $1 a pound for the first time as US President Donald Trump’s tariffs make the metal more expensive in the domestic market.

The so-called US Midwest premium, the amount added to global benchmarks to deliver aluminum to that region, climbed to $1.005 a pound Wednesday, according to data from Fastmarkets. It’s been hitting successive peaks since reaching a record above 64 cents in early June when Trump imposed a 50% tariff on aluminum imports. The premium has more than doubled since then.