Aluminum premiums, after August, retracted the stakes of the American tariff

Written by Pratima Desai

LONDON (Reuters) -Excellent aluminum contract programs on Comex Exchange decreased after August due to some speculation that the customs tariff for American metal imports can decrease in half or that the higher resource may get an exemption.

Aluminum taxes are part of a wider effort in the United States to revive the ability of local melting and reduce dependence on metal imports used in transportation, packaging, energy and construction industries.

Aluminum, which has been shipped to the United States, has been imposed 50 % since June 4. The financial price of August is above 70 US cents per pound or $ 1,543 per metric ton, an increase of approximately 90 % since the end of May.

American buyers of aluminum in the physical market usually pay the Excengle metal standards in London as well as the middle installment to cover costs including shipping and taxes.

Merchants and industry sources said that the Comex bonus, which is part of the CME group, for the month of September, has decreased due to the bets on low prices because some expected President Donald Trump to review the aluminum import taxes.

The aluminum premium is currently trading around 67 cents and 60 cents in the thief for the month of December.

The commercial data provider monitoring numbers show that the United States imported more than 3.9 million tons of aluminum last year, which was shipped 70 % or more than 2.7 million tons from Canada.

However, Consultance Harbour Aluminium expects customs tariffs on American aluminum imports because the United States government believes the customs tariff is important for national security.

“Harbor does not see that the United States reduces a 50 % tariff or provides exemptions … and more now after it has become” addicted “to the revenues provided by the customs tariff,” consultations said in a memo.

“We are still optimistic and we continue to expect the direction of the Middle West about 78 cents before the end of the year and 87 cents in the pound in 2026.”

(Participated in the reports of Pratima Desai; edited by Thomas Ganeovsky)