US aluminium scrap exports to Malaysia augments by 960.45% in 2Q2022

Aluminium is a very resilient metal that can be recycled repeatedly without losing its original value. Recycling aluminium conserves 95 per cent of the energy required to produce the same quantity of aluminium from scratch. Recycling metals isn't always as simple as it may be. Steel is the hardest of the recyclable metals to recycle, while aluminium is the easiest. Although recycling aluminium is simple, it isn't the most recycled metal.

In the second quarter of 2022 (1Q2022), the United States exported a total of 84,200 tonnes of aluminium scrap to Malaysia. On a Q-o-Q calculation, a surge of 76,260 tonnes or 960.45 per cent was recorded in the second quarter from 7,940 tonnes in 1Q2022.

As per the USGS statistics, in March 2022, the United States exported 2,670 tonnes of aluminium scrap to Malaysia, which recorded a drop of 800 tonnes or 42.78 per cent from 1,870 tonnes in February. On the other hand, in February, a decline of 45 per cent or 1,530 tonnes was witnessed from 3,400 tonnes in January.

In 2Q2022, the amount of aluminium scrap exported by the United States to Malaysia also recorded significant changes. In June, the amount of aluminium scrap exported by the US to Malaysia settled at 33,100 tonnes, which M-o-M hiked by 6,100 tonnes or 22.59 per cent from 27,000 tonnes in May. As per the USGS data in May, a growth of 2,900 tonnes or 12.03 per cent was seen from 24,100 tonnes in April.