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U.
S.
aluminum premiums climbed sharply to their highest level in nearly three years on Thursday as U.
S.
aluminum consumers rushed to lock in more supplies
before the U.
S.
government confirmed a 10 percent tariff on aluminum products.
In the United States, aluminum premium is a premium based on the futures price, CIF benchmark, which also shows strong demand for physical aluminum in the US market
.
U.
S.
spot aluminum prices rose as high as 17 cents ($375/mt) per pound on Thursday compared to COMEX aluminum futures, closing at 15.
2 cents a pound, the highest level
since April 2015.
That compares with spot U.
S.
aluminum premiums of 13.
6 cents
a pound on Wednesday.