15:16 ET - The new tariffs on steel and aluminum imports into the U.S. are lifting the Midwest premium - a surcharge applied to aluminum sold in the U.S. to account for transporting the metal to a buyer. But the premium - which currently trades between 28 and 30 cents a pound, according to price assessment firm Fastmarkets - may still be below the value it needs to be to fully account for new tariffs, says Citi Research in a note. "This blanket tariff is expected to bolster the [Midwest premium], which is currently underpricing such a measure," says Citi, adding that it expects the gamut of tariffs pushed by President Trump to push the premium to roughly 40 cents a pound, nearly the all-time high according to data from Fastmarkets. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 15:16 ET (20:16 GMT)
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