US: Aluminium scrap exports rise over 10% m-o-m in Mar'23

Exports of aluminium scrap from the US stood at 174,374 tonnes (t) in March 2023, an increase of 11% m-o-m from 157,101 t in February. However, exports fell marginally by 2% y-o-y in March as against 178,575 t in the corresponding month of last year, as per data maintained with SteelMint.

India was the second largest importer of aluminium scrap from the US, and the major scrap grades exported by the US were Zorba and Taint Tabor (TT).

Country-wise exports

Maximum scrap movements were observed from Los Angeles followed by New York and Norfolk compared to other regions of the US in January-March.

Malaysia: The US exported 38,126 t of aluminium scrap to Malaysia in March, up 23% m-o-m from 31,007 t in February. Similarly, exports from the US rose by 28% y-o-y in March from 29,687 t in the year-ago month.

Malaysia imports most of its aluminium scrap from the US. The demand for aluminium in Malaysia has been increasing, as a result imports of scrap has gone up. The automobile sector recorded a rise of 27% in production compared with CPLY.

India: Exports from the US to India in March stood at 36,382 t, an increase of 17% m-o-m from 31,027 t in February. However, exports had been recorded at 39,939 t in March. So, exports dropped 9% y-o-y in March 2023.

India's automobile production increased significantly in March 2023, going from 1,754,922 units in February to 2,004,592 units. Increased demand for aluminium alloys as a result of capacity expansion by Maruti, a major automaker, resulted in increased imports of scrap.

South Korea: South Korea's aluminium scrap imports from the US were up 5% at 25,341 t in March compared with 24,175 t in February. Similarly, exports from the US fell by 16% in March from 30,272 t in March 2022.

South Korea has been one of the largest aluminium scrap importers from the US. South Korea's industrial production fell 7.6% in March 2023 compared to the same month the year before. As a result, the nation was dependent on imports to satisfy its rising need for aluminium.