PRICING NOTICE: US aluminium DUP premium update

American Metal Market will not launch a US duty-unpaid aluminium premium (DUP) assessment as proposed, after market feedback suggested the need for a different approach.

While the feedback on the proposal to launch a US duty-unpaid aluminium premium (DUP) assessment, indicated interest in a DUP assessment, there were also concerns about how such a premium would be determined given the infrequency of DUP transactions.

This lack of liquidity makes such an assessment untenable in American Metal Market’s judgment, with the concept failing to meet the company’s standards of quality at this time.

American Metal Market is now considering launching a cost insurance and freight (cif) aluminium premium for aluminium imports into the port of Baltimore, which - like a DUP price - would not include the 10% tariff levied on such imports by the Trump administration in March. Any cif transactions concluded in different US East Coast and US Gulf Coast locations would be normalized to Baltimore.

As a result of the DUP not being introduced as an assessment, American Metal Market also will not publish an aluminium P1020 free-market (also known as all-in) duty-unpaid Midwest price using the assessment (London Metal Exchange cash aluminium PM bid price plus premium). A possible free-market calculation incorporating a premium without the 10% tariff is still being considered for launch by American Metal Market.

A pricing notice with further details of AMM’s cif premium assessment proposal will be published on Thursday August 16, as well as its amended free-market price proposal, upon which a new consultation period will be introduced.

To provide feedback on these changes, or if you would like to provide price information by becoming a data submitter, please contact aluminium reporter Kirk Maltais at Please add the subject heading ‘FAO: Kirk Maltais, re: DUP Midwest aluminium premium.’

To see all of American Metal Market’s pricing methodology and specification documents, click here.

Metal Bulletin Group has no financial interest in the level or direction of the assessment.

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