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US metal importers are competing to build aluminium stockpiles ahead of the planned tariff imposition by President Donald Trump next month, pushing premiums above London prices.
Metal imports reached the highest level since mid-2022, when construction, vehicles, drinks and other vehicles and consumer goods reached over 580,000 tonnes in January, according to data from the US Department of Commerce. The total was about a quarter higher than the January average over the past five years.
Rush said it was a “foreigner player” who “defeated US producers” and “surged” on March 12, 25% of all steel and aluminum imports. It is ahead of Trump’s plan to introduce tariffs. The US imports about 80% of its aluminum.
“There is no doubt that some traders had pre-shipment metals before the metals,” said Greg Whitbecker, an independent product advisor. “There’s no doubt that some traders had pre-shipment metals before the metals. “Imports in February also rose. Imagine it.”
The biggest contribution to the rise was the largest foreign supplier to the United States, the largest foreign supplier from Canada, but last month imports from the United Arab Emirates, Bahrain, Australia and South Korea rose sharply . The Commerce figures are based on preliminary import licensing data and official import statistics.
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LME’s aluminum futures prices have risen to their highest level at over $2,700 since mid-2024, but are well below the 2022 level.
According to Argus, US demand has particularly boosted domestic prices. Media data.
One person involved in metal trading said several vessels carrying aluminum, originally directed towards Europe, have been “repurposed to the US” by traders currently trying to beat the tariff deadline. Ta.
Commodity data company Kpler said US aluminum buyers are competing to “make supply safe.” These “preemptive stockpiles disrupt short-term trade flows and urge aluminum exporters, particularly in Asia, to accelerate their shipments to the US,” they added.
Last month, the Financial Times revealed that a surge in gold shipments to the US caused shortages in London.
Aluminum inventory at COMEX warehouses has fallen to its lowest level since 2019, indications of traders looking to preempt tariffs. Because metals are considered so-called “free trade zones,” even if the facility is in the United States, those who remove aluminum from the warehouse from the warehouse after customs is placed must pay all taxes and taxes. “Unpaid of obligation” based on the basis.
According to Wittbecker, aluminum imported to the US will likely go to non-LME and non-Comex warehouses.
Additional Reports by Ray Douglas
