Platts proposes to reflect 25% tariffs in Aluminum P1020A US Import Duty calculation

Platts, part of S&P Global Commodity Insights, proposes to reflect 25% tariffs in its Aluminum P1020A US Import Duty calculation and related US Midwest implied duty unpaid indicators, effective from the date of the tariffs' implementation.

The 25% tariffs for aluminum imports into the US from all origins are expected to be implemented under Section 232 from March 12, 2025, as announced by President Donald Trump.

The P1020A US Import Duty is calculated in cents/lb (MMOEU00) and currently reflects a 10% tariff for imports of primary aluminum.

The calculation would continue to reflect FOB Canada origin, as around 85% of US P1020 purity aluminum imports come from Canada, according to recent US trade data.

Under the proposed change, the P1020A US Import Duty would be calculated as follows:

• Deduct the P1020A US Duty Freight Factor (cents/lb: AFLSB00) from the US Midwest Transaction Price (MMAAF10) to derive an implied FOB Canada value
• Divide the FOB value by 1.25, creating an implied duty-unpaid FOB value
• Multiply this implied duty-unpaid value by 0.25 to generate the P1020A US Import Duty

The P1020A US Import Duty is used to calculate implied duty unpaid indicators including: Aluminum P1020 MW US Transaction Premium (Implied Duty-Unpaid) delivered US Midwest (MMOFU00) and Aluminum P1020 Transaction Price (Implied Duty-Unpaid) delivered US Midwest (MMOGU00).

The assessments that would be impacted by the proposed change to the P1020A US Import Duty calculation include:

The import duty calculation and related duty-unpaid indicators launched in 2018 to complement Platts benchmark Midwest US Transaction Premium and the US Midwest Transaction Price (all-in) assessments for P1020 aluminum, which are assessed on a delivered, duty-paid basis. Platts DDP assessments reflect the delivered Midwest price of P1020 from all origins, and would not be impacted by this proposal.

Full details of Platts US aluminum assessments are available in the global nonferrous specifications guide here(opens in a new tab).

The proposal considers feedback received in response to a consultation opened Feb. 3, 2025. The consultation subscriber note can be accessed here(opens in a new tab).

Platts invites feedback, comments and questions to metalsamericas@spglobal.com and pricegroup@spglobal.com by Feb. 28, 2025.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.