Global Trade

June 2, 2025
Markets are moving - but big tariff questions hang in the air
Written by Gabriella Vagnini
Trump doubles tariffs. Now what for U.S. aluminum buyers?
Well, here we go again.
Global Trade

June 2, 2025
Written by Gabriella Vagnini
Well, here we go again.
LME aluminum prices returned to February levels despite a 50% decrease in warehouse inventories and a substantial narrowing of the cash-to-three-month contango.
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Outside of energy, base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia.
US aluminum scrap imports increased faster than exports through August, while similar tonnage gains kept net exports near year earlier levels.
Stellantis’ Etobicoke Casting Plant faces uncertain production commitments and potential operational disruption as Unifor prepares strike authorization votes.