The duty-free aluminium import arbitrage between the United States and Asia is little changed this month but remains wide with the US Midwest premium well supported throughout June.
The differential between canceling aluminium without the 10% Section 232 tariff from London Metal Exchange-listed warehouses in Asia and shipping the material into the US Midwest has maintained at high levels in every Metal Bulletin monthly calculation since March. It remains at near the highest level since Metal Bulletin launched the calculator in June last year - but the overall picture remains very similar to last month's calculation. For duty-free metal originating from warehouses in Singapore, the estimated arbitrage was at $330.51 per tonne in June for shipments of 10,000 tonnes (via break bulk shipments) down slightly from $331.45 per tonne in the previous month. In Busan, the estimated arbitrage for duty-free metal edged up to $345.37...