Aluminum Scrap Markets
February 7, 2025
AMU Week in Review: Tariff delays, premium swings, and global supply chain risk
Written by Gabriella Vagnini
This first week of February 2025 saw tariffs dominate the aluminum market conversation, with Trump imposing 25% tariffs on Canadian and Mexican imports, then delaying their implementation for 30 days after negotiations with both governments. China wasn’t so lucky, as the U.S. followed through with a 10% tariff on Chinese goods, prompting immediate retaliatory tariffs from Beijing on U.S. coal, LNG, crude oil, and agricultural machinery.
The Midwest Premium (MWP) initially surged on tariff news, jumping 3¢ to 28.25¢/lb, but cooled slightly after the 30-day tariff delay, now range-bound between 28¢ and 28.5¢/lb. Futures pricing has flattened out for April–December at 27¢/lb, showing uncertainty but no major retreat.
