According to the US Geological Survey, the United States' monthly production of primary aluminium in September 2022 stood restrained month-on-month at 61,000 tonnes. In contrast, daily average output edged 40 per cent higher at 2,020 tonnes versus 1,980 tonnes in August.
{alcircleadd}On a year-on-year basis, monthly production in September registered a 15.28 per cent or 11,000 tonnes downfall from 72,000 tonnes, and daily output plunged 370 tonnes or 15.48 per cent from 2,390 tonnes.
In September, total aluminium recovered from scrap was 280,000 tonnes, down by 15,000 tonnes or 5.08 per cent from 295,000 tonnes a month ago but 8,000 tonnes or 2.94 per cent higher than 272,000 tonnes a year earlier. Of this, 152,000 tonnes of aluminium was recovered from new scrap and 128,000 tonnes from old scrap.
The total monthly production of primary aluminium in the United States during the third quarter of 2022 amounted to 186,000 tonnes – 23.77 per cent less than 244,000 tonnes in Q2 2022. Daily output totalled 6,070 tonnes in Q3 versus 8,060 tonnes in the previous quarter.
The September 2022 average US spot market price of primary aluminum ingot was $1.25 per pound, 8 per cent less than that in August 2022 and 23 per cent less than that in September 2021. The average cash price in September 2022 of primary aluminum ingot on the London Metal Exchange (LME) was $1.01 per pound, 8 per cent less than in August 2022 and 21 per cent less than in September 2021.
Inventories of primary aluminum in LME-approved warehouses, including off-warrant inventories, in the United States decreased to 15,587 tonnes at the end of September 2022 from 17,225 tonnes at the end of August 2022. Inventories of secondary aluminum (North American Secondary Aluminum Alloy Contract) in LME-approved warehouses, including off-warrant inventories, in the United States decreased to 4,277 tonnes at the end of September 2022 from 4,996 tonnes at the end of August 2022.
This news is also available on our App 'AlCircle News' Android | iOS