U.S. aluminum prices rise 40% due to tariffs and insufficient inventory

Aluminum prices in the United States have continued to surge due to global supply shortages, the impact of tariffs, and insufficient domestic inventories. Last June, Trump raised import tariffs on aluminum products to 50%, after which U.S. aluminum prices increased by 40%, exceeding $5,200 per ton. Over the past 12 months, LME aluminum prices have risen by more than 20%, reaching their highest level since the Russia-Ukraine conflict. This week, the premium of U.S. Midwest aluminum prices over the LME reached 96 cents per pound ($2,116 per ton), up about 65% since last June. U.S. aluminum inventories have dropped from 750,000 tons at the beginning of 2025 to less than 300,000 tons.