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Platts Aluminum Midwest Premium Explained



  • The S&P Global Platts Aluminum US Midwest Transaction Premium is assessed using a consistently applied and transparent methodology, reflecting prices obtained by our price assessors surveying buyers, sellers, traders, brokers and other participants in the US aluminum market.
  • Driving increases in the Midwest Premium in the first half of 2018 were US import tariffs and US sanctions affecting Rusal, the world's second largest aluminum producer and a big exporter into the US. The impact of these actions significantly reduced available and unrestricted supply in the US - the Midwest Premium simply reflected this unique market dynamic.
  • During 2019, the Platts Midwest Premium (MWP), while still affected by the US import tariffs, has fallen about 22% from the 2018 highs, particularly since the mid-2Qtr US tariff exemption for Canada and Mexico. The impact of remaining tariffs (which affect about 40% of US aluminum imports), market uncertainty about whether non-tariffed Canadian aluminum is previously committed or available for import, and ongoing market concerns about replacement and replacement costs continue to significantly reduce available and unrestricted supply in the US; the Midwest Premium is reflecting this.
  • S&P Global Platts is an independent price reporting agency, with no vested interest in whether the price of a commodity it covers goes up or down. We publish every data point that underlies our assessments for all in the market to see and comment on – ensuring the integrity and relevance of our valuations.
  • Participation in S&P Global Platts price assessment processes is voluntary. It is market participants who decide which aluminum price assessments, from those published by various price reporting organizations, to adopt as industry benchmarks. S&P Global Platts adheres to the internationally recognised IOSCO Principles for Price Reporting Agencies and retains a leading auditor to conduct an annual assurance review of our price assessment processes.
  • Details of the S&P Global Platts price assessment process in aluminum are published and publicly available here.

*Video published summer 2018.