India’s conscious shift to recycled aluminium amplifies 1Q2023 scrap imports by 194% from US
In March 2023, India imported 36,400 tonnes of aluminium scrap from the United States compared to 31,000 tonnes in February, found the US Census Bureau data. Thus, on a month-on-month calculation, India’s aluminium scrap imports from the US in March registered an increase of 5,400 tonnes or 17.42 per cent. On an annual basis, India’s imports leaped by 267 per cent from 9,900 tonnes.
This indicates India’s conscious decision of shifting to recycled aluminium from primary metal to infuse sustainability in the industry and boost the circular economy. AL Circle’s latest report on “Sustainability in the Global Aluminium Industry” has distinctively highlighted that Indian manufacturers are introducing new product lines of low-carbon aluminium.
In the entire third quarter of 2023 ended March 31, India imported 96,700 tonnes of aluminium scrap, up by 194 per cent from 32,900 tonnes during the same period of the last year.
The United States’ aluminium scrap exports in March 2023 stood at 176,000 tonnes, reflecting a month-on-month surge of 17,000 tonnes or 10.69 per cent from 159,000 tonnes. On a year-on-year calculation, the United States’ scrap exports in March soared by 364.38 per cent from 37,900 tonnes.
In Q3, the US exports totalled 496,000 tonnes of aluminium scrap, reflecting a sharp hike of 372.38 per cent from 105,000 tonnes a year ago.
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