After US President Donald Trump signed into law a 10% tariff on aluminium imports into the United States, premiums in the US saw some movement but European premiums were stuck waiting for more clarity on the trade measures.
Market tentative, awaiting US tariff effect The US foundry alloy premium moved slightly higher following the formalization of Trump's tariffs on aluminium and steel imports - with market participants waiting to see if that premium would follow the soaring P1020 premium. American Metal Market's latest assessment of the foundry alloy premium places it at 10-11 cents per lb, up from 9-11 cents per lb last month.Market participants said that the spot market has been quiet, but the 232 tariff could serve to push things up because the spot market for foundry products may...