On the evening of November 10, 2025, Aluminium buyers in the US physical market witnessed history unfold as the Midwest Premium surged to an all-time high of USD 1,950.15 per tonne, striking a sharp growth of 2.87 per cent overnight from USD 1,895.72 per tonne.
The Midwest Premium, a surcharge on top of the London Metal Exchange (LME) price that reflects local delivery costs, logistics, and regional supply-demand dynamics, has become a direct casualty of US protectionist measures. Analysts attribute the latest spike to the combined effects of steep tariffs and mounting supply chain distortions, which have tightened domestic availability of the metal.
Surges over several months
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