India’s aluminium scrap imports from the US continue to display M-o-M downtrend in Nov’22: USGS

India’s aluminium scrap imports from the United States have been falling through the past three months to reach as low as 28,800 tonnes in November 2022 versus 40,800 tonnes in October, according to the US Census Bureau data. That was a month-on-month decline of 12,000 tonnes or 29.41 per cent in India’s aluminium scrap imports from the US during November. The imports in October also fell from the previous month, although slower, by 1,000 tonnes or 2.39 per cent from 41,800 tonnes.

On a year-on-year calculation, India’s aluminium scrap imports from the US during November 2022 edged a sharp downfall of 20,100 tonnes or 41.10 per cent from 48,900 tonnes.

Given the slowdown in India’s aluminium scrap imports from the United States since the last three months of 2022, the total volume of imports during the year's second half is expected to barely show any growth compared to the first half of the year. In H1 2022, India imported 227,000 tonnes of aluminium scrap from the United States, in compare to which the country bought 198,400 tonnes in five months of H2 2022.

 But compared to the aluminium scrap imported during January-November 2021, the volume during the same period of this year stands higher, according to USGS. From 400,000 tonnes last year, India’s imports in the nine months of 2022 increased to 426,000 tonnes. 

The United States' total aluminium scrap exports also decreased month-on-month in November 2022 from 172,000 tonnes to 160,000 tonnes. That indicated a downfall of 12,000 tonnes or 6.98 per cent month-on-month.

During January-November 2022, the United States’ export volume totalled 1.84 million tonnes, down by 4.17 per cent from 1.92 million tonnes a year ago.