February aluminum imports fell sharply despite strong Midwest premium incentives, leaving US inventories at roughly two weeks of demand and raising the risk of higher physical premiums amid tight supply and geopolitical uncertainty.
The US International Trade Commission issued an affirmative preliminary determination that imports of van-type trailers and subassemblies from Canada, China and Mexico are materially injuring the domestic industry, advancing the AD/CVD investigations while scope and product disputes continue.
Rio Tinto reported steady attributable aluminum production in 2025, higher segment EBITDA and changing exposure to value-added products and Midwest-exposed pricing.
The bill on the IEEPA tariffs will go to the Senate for a vote.
Canada is repositioning its aluminum exports toward Europe and Mexico as US tariffs raise costs, strain downstream demand and reshape trade flows.
The smelter is expected to be fully ramped up by end of the year, the mining company said.
From the physical side, as prices for key commodities soar, demand retrenchment – if not outright destruction – materializes. We see this sign most clearly in the Chinese physical markets, which have turned extremely quiet of late in light of the steep price run-ups. That’s particularly the case in copper, nickel, and aluminum.
The US has seen a drastic decline in imports from Canada.
The organization is urging the US government to use the United States-Mexico-Canada Agreement to stop unfairly subsidized Chinese aluminum from entering the market.
The outcome of the investigation by the DOC and ITC would shape the competitive landscape and the structure of the US trailer supply chain for years to come.