US aluminium scrap exports to Malaysia record a 7% M-o-M drop in contrast to the hike in total exports

The world's second-largest aluminium scrap exporter, the United States, exported 26,400 tonnes of scrap to Malaysia in August 2023, down by 2,000 tonnes or 7.04 per cent month-on-month from 28,400 tonnes. On a year-on-year basis, the export in August 2023 edged a sharp fall of 43.34 per cent from 46,600 tonnes, according to the US Geological Survey.

The United States aluminium scrap exports in August 2023 decreased month-on-month, following a hike of 20.85 per cent in the previous month from 23,500 tonnes to 28,400 tonnes.

In the first eight months of 2023, the United States aluminium scrap exports to Malaysia totalled 244,000 tonnes, down by  5,000 tonnes or 2 per cent from 249,000 tonnes during the corresponding period of the last year.

Malaysia is one of the leading aluminium scrap-consuming countries in the world. In 2021, Malaysia became the world's fourth largest importer of scrap aluminium, importing worth $1.33 billion. In the same year, aluminium scrap was Malaysia's 28th most imported product. Malaysia imports primarily from the United States, Canada, Japan, Australia, and Hong Kong.

According to the USGS data, the United States exported 179,000 tonnes of aluminium scrap in August 2023 compared to 173,000 tonnes in the previous month. The data indicates that the United States' total aluminium scrap exports grew by 3.47 per cent month-on-month in August 2023, unlike its exports to Malaysia.

From January to August 2023, the United States' cumulative aluminium scrap exports stood at 1.39 million tonnes versus 1.34 million tonnes during the corresponding period of the previous year.