Global Trade
December 23, 2025
Written by Stephanie Ritenbaugh
While 2025 may have been the year of TACO, where “Trump Always Chickens Out” and alters steel tariffs, aluminum is a bit of a different game.
Timna Tanners, Wells Fargo managing director, spoke about tariffs, supply and demand, and the outlook for 2026 during a joint Community Chat hosted by AMU and its sister publication Steel Market Update.
EGA has restarted 631 of Al Taweelah’s 1,262 reduction cells and still expects the smelter to return to full production in Q1 2027.
Recycler forward views shifted toward undersupply in October even as Midwest Premium and UBC expectations moved lower.
Aluminum sheet lead times rose modestly in October, while broader supply indicators remained largely stable after September’s shift.
Alcoa expects two other unnamed sites to follow the Massena East sale.
A Luxembourg court withdrew an order blocking a potential sale of Ardagh Metal Packaging, allowing Ardagh Holdings to resume preparations.
