Affected by supply concerns, the European aluminum premium has reached its highest level since June.
October 7, 2026
On Friday, October 2nd, the European aluminum premium had jumped to a level not seen in nearly four months. Industry insiders pointed out that this sharp increase was due to the following concerns: If the United States reduces tariffs on Canadian metals, it could lead to a supply shortage in Europe.
Data released on Friday showed that on Thursday, the near-month COMEX European duty-paid aluminum premium rose to $574 per ton, up 10% from the previous trading day and reaching a high level since June 8th.
Although the supply in Europe remains tight, the COMEX Japanese aluminum premium, which serves as a reference price for the Asian market, has fallen by 35% since the end of July and dropped to $226 per ton this week, reaching the lowest level since March 3rd.
In a recent report, the consulting firm CRU stated: "As inventories continue to accumulate and potential demand remains weak, the Asian aluminum premium is falling back."
The firm also added that the new capacity to be added in 2027 will be released first in Asia, which may bring further downward pressure on the market.
