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LONDON: Premiums for consumers buying aluminium on the physical market in the United States soared on Monday after U.S. President Donald Trump said he planned to increase tariffs on imported steel and aluminium to 50% from 25%.
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The U.S. Midwest duty-paid aluminium premium reached $0.58 per lb, or $1,279 a metric ton, on Monday. That was a 54% jump from Friday.