1540 ET - The cost of US aluminum is increasing more slowly than expected from the 25% tariff. The Midwest delivery premium--a catch-all fee attached to aluminum purchases to cover transportation, warehousing, tariffs and other costs for delivering aluminum--is about 39 cents, roughly flat since the tariff started March 12, says S&P's Platts Global Commodity Insights. Analysts expected the fee to reach 45 cents or higher--roughly $1,000 a metric ton. It may get there eventually, but Alcoa says aluminum stockpiled before the tariff started has to be used up first. "We had expected the Midwest premium would respond more quickly. It has not," CFO Molly Beerman told analysts this week. "Until that stockpile depletes, we don't have the impetus for price pressure up." (robert.tita@wsj.com)
(END) Dow Jones Newswires
The Midwest delivery premium for U.S. aluminum is about 39 cents a pound. "Aluminum Fee Rising Slower Than Forecast From Tariff -- Market Talk," at 3:40 p.m. ET, incorrectly said the premium was 39 cents.
(END) Dow Jones Newswires
April 18, 2025 15:52 ET (19:52 GMT)
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