US imports of crude metals and alloys from Canada negate 2.64% Y-o-Y on August 2023; US imports from Mexico tumble 15.95%

As per the latest data by the United States Geological Survey (USGS), it can be calculated that the US imports of crude metals and alloys from Canada slumped by 6000 tonnes or 2.64 per cent Year-on-Year from 227,000 tonnes recorded in August 2022 to 221,000 tonnes in August 2023. Similarly, there has been a Year-on-Year drop in US imports of crude metals and alloys from Mexico, resulting in 1,370 tonnes in August 2023, down 260 tonnes or 15.95 per cent from 1,630 tonnes in August 2022.

On a Month-on-Month scale, the US imports of crude aluminium from Canada have suffered a loss of 36,000 tonnes or 14 per cent since July 2023's registered amount was 257,000 tonnes. In contrast, the US imports of crude metals and alloys from Mexico maintained a Month-on-Month stagnancy.

If we compare the collection in May 2023, which was 212,000 tonnes, with the August 2023 haul, we can see there has been a Quarter-on-Quarter influx of 9,000 tonnes or 4.24 per cent in the US imports of crude metals and alloys from Canada. But the US imports of crude metals and alloys from Mexico have plummeted by 460 tonnes or 23 per cent on a Quarter-on-Quarter basis from 1,780 in May 2023 to 1,370 tonnes in August 2023.

In the first eight months of 2023, the total US imports of crude metals and alloys from Canada were 1.75 million tonnes. Thus, August 2023 could only register 12.63 per cent of the total value. From January to August 2023, the total US imports of crude metals and alloys from Mexico was 10,600 tonnes, of which August 2023's haul was only 12.92 per cent.

We have always seen that the US imports of crude aluminium from Canada have been substantially greater than the US imports of crude aluminium from Mexico. On the other hand, exports from the US to Canada are lower than the US exports of crude metals and alloys to Mexico.

The US exports of crude metals and alloys to Canada increased noticeably to 6,630 tonnes in August 2023 from 5,860 tonnes in August 2022, up by 770 tonnes or 13.14 per cent. The US exports of crude metals and alloys to Mexico soared exponentially by 4,800 tonnes or 39.67 per cent to 16,900 tonnes in August 2023 from 12,100 tonnes in August 2022.

On a monthly radar, the US exports of crude metals and alloys to Canada levitated by 2,120 tonnes or 47 per cent from 4,510 tonnes in July 2023. Similarly, the US exports of crude metals and alloys to Mexico jumped Month-on-Month by 3,500 tonnes or 26.12 per cent from 13,400 in July 2023.

If we consider the quarterly USGS chart, we can mark a drop of 10 tonnes or 0.15 per cent in US exports of crude metals and alloys to Canada from 6,640 tonnes recorded in May 2023. In comparison, Mexico witnessed a 3,300 tonnes or 24.26 per cent surge in US exports of crude metals and alloys from 13,600 registered in May 2023.

The first eight months of 2023 earned 46,300 tonnes of US exports to Canada, of which August 2023 contributed 14.32 per cent. The total US exports of crude metals and alloys to Mexico from January to August 2023 were 112,000 tonnes, to which August 2023 only added 15.09 per cent.