According to the US Geological Survey, the United States’ domestic production of primary aluminium in December 2023 stood at 64,000 tonnes, reflecting an increase of 3,000 tonnes or 4.9 per cent M-o-M from 61,000 tonnes. On a year-on-year calculation, the output remained absolutely unchanged, as per the data.
The United States’ total primary aluminium production in 2023, however, experienced a downfall of 12.89 per cent from 861,000 tonnes to 750,000 tonnes.
The average daily production in December 2023 was 2,060 tonnes, restrained compared to the previous year and essentially unchanged from 2,040 tonnes in November 2023. The average daily output in full-year 2023 was 2,050 tonnes per day, down by 13.14 per cent from 2,360 tonnes.
The total amount of aluminium recovered from scrap in December 2023 was 262,000 tonnes—2.6 per cent less than 269,000 tonnes a month ago but 0.38 per cent more than 261,000 tonnes a year earlier. Of this, 145,000 tonnes was recovered from new scrap and 118,000 tonnes from old scrap.
In 2023, the total volume of aluminium recovered from scrap was 3.31 million tonnes, essentially unchanged from 3.39 million tonnes in 2022.
US spot market price
The December 2023 average US spot market price of primary aluminum ingot was $1.18 per pound, essentially unchanged from that in November 2023 and 9 per cent less than that in December 2022. The average cash price of primary aluminium ingot on the London Metal Exchange (LME) was $0.99 per pound, essentially unchanged from that in November 2023 and 9 per cent less than that in December 2022.
Inventories of primary aluminium in LME-approved warehouses, including off-warrant inventories, in the United States were 3,323 tonnes at the end of December 2023, slightly less than that at the end of November 2023. Inventories of secondary aluminium (North American Secondary Aluminum Alloy Contract) in LME-approved warehouses, including off-warrant inventories, in the United States were 1,559 tonnes at the end of December 2023, more than double (130 per cent) than at the end of November 2023.
Imports & exports at a glance
The United States aluminium imports for consumption in 2023 also decreased year-on-year by 12 per cent, in contrast to the hike of 12 per cent in 2022. The leading sources of imports were Canada, accounting for 59 per cent; the United Arab Emirates, 9 per cent; Mexico, 5 per cent; and Australia, 4 per cent.
On the other hand, total exports increased by 8 per cent compared to the rise of 4 per cent in 2022. The leading export destinations were Mexico, contributing 19 per cent to the total exports; Malaysia, 17 per cent; Canada, 16 per cent; India, 14 per cent; and the Republic of Korea, 9 per cent.
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