Overview of the United States’ Q1 2024 aluminium imports: Strong trade agreement with Canada directing the trend

According to the United States Geological Survey, the United States imported 1.36 million tonnes of aluminium (including scrap) through the first quarter of 2024 ended March 31. That reflected an annual increase of 6.25 per cent from 1.28 million tonnes. In the individual month of 2024, the United States imported 448,000 tonnes, 492,000 tonnes, and 418,000 tonnes, indicating a fluctuating trend M-o-M. After a rise in February by 9.82 per cent, the United States’ aluminium imports in March decreased by 15 per cent.  

The top sources of imports in Q1 2024 included Canada (874,000 tonnes), the United Arab Emirates (69,600 tonnes), Mexico (63,900 tonnes), China (approximately 42,200 tonnes), and Argentina (41,100 tonnes). However, if compared to the previous year, imports from almost all the above mentioned countries decreased year-to-date, barring Canada. In fact, Canada primarily drove the United States aluminium imports through Q1 2024, reporting an annual hike of 13.27 per cent in its imports.

Among the rest, imports from the UAE plunged by 25 per cent Y-o-Y and that from Mexico, China, and Argentina decreased by 7.26 per cent, 6.22 per cent, and 3.41 per cent, respectively.