Aluminum Premium Slips as US Set to Cut Tariffs on Canada Metal

Markets Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Yvonne Yue Li August 20, 2026 at 8:28 PM UTC A key regional price benchmark for aluminum delivered to the US market tumbled after the Trump administration indicated it would lower tariffs on certain Canadian exports of aluminum. The September US Midwest premium slumped 8.2% to 95 cents a pound on Thursday, according to pricing data from Platts. The October and November contracts dropped more than 12% after the tariff announcement, the data showed. The Midwest premium is the amount added to global benchmarks to deliver aluminum to that region.