US primary aluminium production starts 2023 with a monthly restraint at 64,000 tonnes: USGS

According to the US Census Bureau survey, the United States' primary aluminium output started the year 2023 with a monthly restraint. Data shows the country's monthly aluminium production continued to stand at 64,000 tonnes in January, but the average daily output slightly dipped from 2,060 tonnes in December to 2,050 tonnes.

On a year-on-year calculation, the United States' primary aluminium output in January 2023 recorded a downfall of 18,000 tonnes or 21.95 per cent from 82,000 tonnes. Daily average production slipped by 600 tonnes or 21.95 per cent over the year from 2,650 tonnes.

Total aluminium recovered from scrap in the United States during January 2023 was 278,000 tonnes versus 266,000 tonnes in December 2022. Of the total recovery in January 2023, 162,000 tonnes of aluminium was recovered from new scrap, and 116,000 tonnes from old scrap.

In January 2023, the average US spot market price of primary aluminum ingot was $1.41 per pound – 9 per cent more than in December 2022 but 17 per cent less than in January 2022. The average cash price in January 2023 of primary aluminium ingot on the London Metal Exchange (LME) was $1.13 per pound – 4 per cent more than in December 2022 and 17 per cent less than in January 2022.

Inventories of primary aluminium in LME-approved warehouses, including off-warrant inventories, in the United States, were 5,966 tonnes at the end of January 2023, registering a 9 per cent drop than at the end of December 2022. Inventories of secondary aluminum (North American Secondary Aluminum Alloy Contract) in LME-approved warehouses, including off-warrant inventories, in the United States, decreased to 2,027 tonnes at the end of January 2023, 26 per cent less than at the end of December 2022.