US primary aluminium production in May 2023 recovers from the loss of 3% and returns to 65,000 tonnes

In May 2023, the United States' primary aluminium production stood at 65,000 tonnes, reflecting a month-on-month increase of 2,000 tonnes or 3.17 per cent from 63,000 tonnes, found the US Census Bureau data. The data also indicated that the monthly output recovered from the loss of 3 per cent occurred in the previous month. However, on a year-on-year calculation, the output in May edged a sharp fall of 19,000 tonnes or 22.62 per cent from 84,000 tonnes.

The United States' average daily production of primary aluminium in May was 2,090 tonnes, restrained compared to 2,100 tonnes a month ago. On an annual basis, the average daily output plunged by 22.59 per cent from 2,700 tonnes, learned USGS data.

Total aluminium recovered from scrap in May 2023 was 272,000 tonnes – 0.74 per cent more than the previous month and 6.85 per cent less than a year ago. Of the total scrap recovered in May, 148,000 tonnes was recovered from new scrap and 125,000 tonnes from old scrap.

In May 2023, the average US spot market price of primary aluminium ingot was $1.27 per pound, down by 4 per cent from April '23 and 23 per cent less than in May '22. The average cash price in May 2023 on the London Metal Exchange (LME) was $1.03 per pound, 3 per cent less M-o-M and 20% down Y-o-Y.

Inventories of primary aluminum in LME-approved warehouses, including off-warrant inventories, in the United States were 3,349 tonnes at the end of May 2023, unchanged from that at the end of April 2023. Inventories of secondary aluminum (North American Secondary Aluminum Alloy Contract) in LME-approved warehouses, including off-warrant inventories, in the United States were 993 tonnes at the end of May 2023, 7% less than at the end of April 2023.