Update from February. 3, 2025 at 4:59 pm East: Prime Minister Justin Trudeau says that the American definitions in Canada will stop temporarily for 30 days. Read more about the advertisement here.
The material market traders said that the cost of aluminum for consumers in Europe that is buying in the material market has decreased due to expectations that will be transferred to Canadian shipments under the American customs tariff from Tuesday.
US President Donald Trump imposed a 25 percent standard tariff on Mexico, most Canadian imports and ten percent on goods from China that start on Tuesday, and may start a trade war that can scatter and inflame global growth.
Consumers on the physical market pay the Excengle (LME) in London (LME) CMAL3 as well as a tax covering and transportation costs and handling.
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The aluminum contract paid from European fees on Comex, which ends on February 28, fell by more than ten percent to about 322 dollars per ton from $ 370 per ton at the beginning of January.
The United States is a major importer of aluminum used widely in the transportation, packing and construction industries, and it is charged in 5.46 million metric tons of aluminum products in 2023, according to the US Department of Trade.
According to the Ministry of Trade, Canada accounted for 3.08 million tons, or 56 percent of aluminum products imports to the United States for local consumption in 2023, which is the latest full year data available.
Meanwhile, the European Union imported approximately 158,000 tons of aluminum – elementary and alloys – from Canada between January and November last year or only 2.9 percent of its needs, according to Trade Data Monitor (TDM).
These numbers are compared to more than 110,000 tons and 1.9 percent in the same period in 2023, according to TDM data.
