According to Alcoa, “Higher alumina and aluminum prices, as well as a stronger U.S. dollar, were the primary factors driving this sequential increase. Notably, we saw a sharp rise in alumina and aluminum prices towards the beginning of Q2 2018 after President Trump imposed sanctions on RUSAL, the leading Russian aluminum producer. US Midwest aluminum premiums also rose to multiyear highs after President Trump imposed Section 232 tariffs.