USA: Aluminium exports fall by 10% m-o-m in Jun'24

In June 2024, total aluminium scrap exports amounted to 169,094 tonnes (t), representing a 9.72% decrease compared to May 2024, when exports reached 187,300 t. This m-o-m decline suggested a softening in demand or potential adjustments in international trade dynamics.

On a y-o-y basis, the export figures for the first half of 2024 (H1CY'24) also showed a slight decrease. From January to June 2024, the U.S. exported 1,015,395 t of aluminium scrap, a 0.91% drop from 1,024,700 t exported during the same period in 2023. Though modest, this y-o-y decline indicated a sustained trend that could be influenced by various factors, including global economic conditions.

Rolling mill grade aluminium scrap remained costly due to limited supply, with mills urgently needing material. This is driven by reduced scrap production, which reflected lower industrial output, and potential stockpiling in anticipation of new mills starting up.

The U.S., a leading supplier of aluminium scrap, particularly sheet scrap (taint tabor), is currently stockpiling to meet strong domestic demand driven by upcoming new rolling mills. This heightened demand is placing pressure on exports. Consequently, the outflow of taint tabor grade scrap from the U.S. is expected to be significantly restricted in the near future.

Country-wise scrap exports

In June 2024, U.S. aluminium scrap exports to key Asian markets saw a notable decline across most destinations. Exports to Malaysia dropped by 10.3% to 30,754 t, down from 34,289 t in May 2024. Similarly, exports to India decreased by 7.9%, with shipments falling from 44,683 t in May to 41,142 t in June. South Korea experienced a significant decline of 23.8%, with exports reducing from 25,005 t in May to 19,064 t in June. Thailand also saw a decrease, with exports down by 15.1% to 22,714 t from 26,739 t the previous month.

However, Hong Kong was an outlier, with exports increasing significantly by 66.9%, rising from 6,072 t in May to 10,136 t in June. Overall, U.S. aluminium scrap exports to these countries totaled 169,094 t in June 2024, reflecting a 9.7% decline from 187,298 t in May 2024.

In June 2024, the total export of aluminium semi-finished stood at 65,276 t, marking a decrease of 13.92% m-o-m compared to 75,834 t in May 2024. However in H1CY'24 the export of aluminium semi-finished are at 425,247 t, a significant increase of 39.10 % y-o-y compared to 305,722 t in H1CY'23.

Aluminium finished

In June 2024, the total export of aluminium finished products, including both finished flat and finished long, amounted to 69,837 t, marking a 10.8% m-o-m decrease from 78,302 t in May 2024. However, in H1CY'24, exports of aluminium finished products reached 455,879 t, reflecting a 3% y-o-y decline compared to 470,205 t in H1CY'23.

Exports of pipes and tubes grade aluminium finished products from the U.S. saw an 11.9% m-o-m decline, falling to 3,379 t in June 2024, down from 3,837 t in May 2024. There was also an 11% y-o-y decrease in exports of pipes and tubes in H1CY'24, with 21,718 t exported compared to 24,420 t in H1CY'23.

Rolled plates grade aluminium finished product exports from the U.S. declined by 13.8% m-o-m to 43,273 t in June 2024, down from 50,205 t in May 2024. However, exports of rolled plates remained stable in H1CY'24 at 298,515 t, compared to 298,384 t in H1CY'23.