Global Trade
June 12, 2025
Written by Gabriella Vagnini
If you’ve been watching the aluminum market this week, you know things aren’t just messy, they’re distorted. The CME Midwest premium pushed through 60¢ and there’s talk of 70¢ like it’s inevitable. But this isn’t about fundamentals anymore. This is a tariff premium, plain and simple. And most buyers we’ve spoken to know it. They’re not buying long and they’re not buying the hype.
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.
