Aluminium scrap exports from the US record M-o-M hike of 11% in March’23

Aluminium scrap exports from the United States closed at 174,374 tonnes in March 2023, up 11 per cent from 157,101 tonnes in February. However, exports declined by 2 per cent Y-o-Y in March, compared to 178,575 t in the same month last year. The principal scrap grades shipped by the US were Zorba and Taint Tabor (TT), and India was the second biggest importer of aluminium scrap from the US.

Compared to other US locations, Los Angeles had the most scrap migration, followed by New York and Norfolk. The United States shipped 38,126 tonnes of aluminium scrap to Malaysia in March, an increase of 23 per cent Y-o-Y from 31,007 tonnes in February. Similarly, US exports increased by 28 per cent Y-o-Y in March, from 29,687 tonnes the previous month.

Malaysia imports the majority of its aluminium scrap from the United States. Malaysia's demand for aluminium has been growing, and as a consequence, scrap imports have increased. Production in the vehicle industry increased by 27 per cent compared to CPLY. US exports to India were 36,382 tonnes in March, up 17 per cent yearly from 31,027 tonnes in February. In March, however, exports were reported at 39,939 tonnes. As a result, exports fell 9 per cent Y-o-Y in March 2023.

In March 2023, India's automotive output grew dramatically, from 1,754,922 units in February to 2,004,592 units. Greater demand for aluminium alloys resulted in greater scrap imports due to Maruti's capacity growth. Imports of aluminium scrap from the United States increased by 5 per cent in March to 25,341 t, up from 24,175 t in February. Similarly, US exports declined 16 per cent in March from 30,272 t in March 2022.

South Korea has been one of the top importers of aluminium scrap from the United States. Industrial output in South Korea declined 7.6 per cent in March 2023 compared to the same month the previous year. Consequently, the country relied on imports to meet its increasing need for aluminium.

                    Received under the content exchange agreement with SteelMint