US aluminium plates, sheets and bars exports to Republic of Korea register Y-o-Y exponential growth, June 2023

In June 2023, the United States exported 2,090 tonnes of aluminium plates, sheets and bars to the Republic of Korea, witnessing 1,980 tonnes or 1800 per cent Year-on-Year influx from 110 tonnes recorded in June 2022. This shows a massive increase in US export rates to Korea, as per the USGS official site. 

In May 2023, the export rate of aluminium plates, sheets and bars to Korea was 2,450 tonnes, which dropped by 360 tonnes or 14.69 per cent on a Month-on-Month scale. Also, in March 2023, the total export to Korea was 2,460 tonnes, which shrunk by 370 tonnes or 15.04 per cent Quarter-on-Quarter to reach the amount in June.

Similarly, if we consider the import rate of US aluminium plates, sheets and bars from the Republic of Korea, it can be seen that in June 2023, it was 9,470 tonnes, which experienced a Month-on-Month plunge of 1,130 tonnes or 10.66 per cent from 10,600 tonnes in May 2023.

In June 2022, the total US import from Korea was 11,800 tonnes, which narrowed down on a Year-on-Year scale by 2,330 tonnes or 19.74 per cent to reach the numbers in June 2023.

During March 2023, the US imported a total of 5,730 tonnes of aluminium plates, sheets and bars from Korea, denoting a Quarter-on-Quarter surge of 3,740 tonnes or 65.27 per cent if we consider the total haul in June 2023.