The United States of America, with an impressive economic size of US$26.95 trillion (as of 2023), ranks among the world’s leading aluminium producers, consumers, and exporters. Based on AL Circle’s research, the United States is the second-largest producer of aluminium extrusion and scrap and the fifth-largest manufacturer of cast aluminium products. According to Statista, the United States aluminium consumption reached 4 million tonnes in 2023, while the US Geological Survey reported exports of 3.29 million tonnes (including scrap).
Now that the United States’ H1 2024 export data is revealed, it is evident that the country is seeing a consistent growth trajectory in its aluminium export volume over the years. In the first half of 2024 ended June 30, the United States exported 1.77 million tonnes of aluminium (including scrap), marking a Y-o-Y increase of 7.93 per cent from 1.64 million tonnes.
Of all the aluminium products exported by the United States during H1 2024, aluminium scrap was the dominant item, with an export volume of 1.04 million tonnes, accounting for about 59 per cent of the total exports. Aluminium plates, sheets, and bars exports accounted for 22 per cent of the total, amounting to 393,000 tonnes, followed by aluminium crude metals and alloys exports at 336,000 tonnes.
A lion’s share of the United States aluminium exports is destined for Malaysia, Mexico, Canada, India, and Thailand. Together, these five countries imported 1.348 million tonnes of metal from January to June 2024. Malaysia emerged as the topmost importer of aluminium from the United States in H1 2024, replacing Mexico. Ranking up from the third position in H1 2023, the country became the first, followed by Mexico, Canada, India, and Thailand.
Explore the top five destinations:
Malaysia, as the largest importer of aluminium from the United States, secured 384,000 tonnes in H1 2024, significantly up by 42.75 per cent from 269,000 tonnes in H1 2023. Malaysia primarily imported aluminium crude metals, alloys, and aluminium scrap during the period. The former volume stood at 190,000 tonnes, seeing a Y-o-Y surge of 147 per cent from 77,000 tonnes, while the latter amounted to 191,000 tonnes, reflecting a slight rise of 1 per cent from 189,000 tonnes.
Through the first half of 2024, Malaysia’s imports of aluminium crude metals and alloys and aluminium scrap from the United States stood the highest in April at 37,600 tonnes and 35,700 tonnes, respectively.
Mexico, which was the highest importer of aluminium from the United States in H1 2023, became the second-highest destination in H1 2024, procuring 315,000 tonnes versus 322,000 tonnes. That reflected a year-on-year decline of 7,000 tonnes or 2 per cent, showed the USGS data. The decline in import volume was primarily propelled by aluminium scrap, witnessing a 25.5 per cent plunge to 66,800 tonnes.
In contrast, Mexico’s imports of aluminium crude metals and alloys from the US jumped by 11.98 per cent Y-o-Y to 91,600 tonnes, and that of aluminium plates, sheets, and bars grew by 3.97 per cent to 157,000 tonnes.
In H1 2024, Canada ranked down to the third largest importer of aluminium from the United States from the second position in the previous year. According to the US Census Bureau survey, the United States exported 271,000 tonnes of aluminium to Canada, of which the export volume of aluminium plates, sheets, and bars amounted to 169,000 tonnes, down by 5 per cent from 178,000 tonnes during the corresponding period of the previous year. Aluminium crude metals and alloy exports also dipped Y-o-Y from 35,200 tonnes to 34,300 tonnes.
However, only aluminium scrap exports increased Y-o-Y by 8.47 per cent from 62,600 tonnes to 67,900 tonnes.
India maintained its position as the fourth largest aluminium importer from the United States and the topmost importer of scrap despite the plunging volume. In H1 2024, India imported 217,000 tonnes of aluminium from the US, of which the volume of scrap import was 214,000 tonnes. The total volume of aluminium import was down by 8.55 per cent Y-o-Y from 234,000 tonnes, while the import of scrap was 7.36 per cent less than 231,000 tonnes a year ago.
Thailand was the fifth largest importer of aluminium from the United States in H1 2024, securing 161,000 tonnes. The volume was up by 55 per cent from 104,000 tonnes in H1 2023, driven by the import volume of aluminium scrap at 156,000 tonnes – 54.5 per cent more Y-o-Y than 101,000 tonnes.
Note: It is to be noted that among the top five importers of the United States aluminium in H1 2024, three destinations, such as Mexico, Canada, and India, saw a year-on-year fall in import volume. So, Malaysia and Thailand primarily drove the hike in the United States’ total aluminium import volume, accounting for 22 per cent and 8.81 per cent, respectively.
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