Alcoa expects U.S. aluminium prices to remain well above pre-tariff levels even if Washington cuts its 50% tariff on Canadian aluminium. The U.S. requires roughly 4 million tonnes of aluminium imports annually, while Canada can supply only about 3 million tonnes, leaving another 1 million tonnes that must be sourced internationally. Alcoa said this continuing import requirement should keep the U.S. Midwest premium elevated, currently around $1.09 per pound. The company produces about 900,000 tonnes of aluminium annually in Canada. It pays more than $1 billion in tariffs to move most of it into the U.S., although the higher Midwest premium offsets those costs and provides additional margin.
