Price for Aluminium Waste and Scrap in the United States - 2023

Contents:

1. Price for Aluminium Waste and Scrap in the United States (FOB) - 2023
2. Price for Aluminium Waste and Scrap in the United States (CIF) - 2023
3. Exports of Aluminium Waste and Scrap in the United States
4. Imports of Aluminium Waste and Scrap in the United States

Price for Aluminium Waste and Scrap in the United States (FOB) - 2023

In July 2023, the average aluminium waste and scrap export price amounted to $1,783 per ton, with a decrease of -1.9% against the previous month. Overall, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in May 2023 an increase of 10% against the previous month. As a result, the export price reached the peak level of $2,061 per ton. From June 2023 to July 2023, the the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In July 2023, the countries with the highest prices were Mexico ($1,913 per ton) and Canada ($1,872 per ton), while the average price for exports to Hong Kong SAR ($1,629 per ton) and Indonesia ($1,661 per ton) were amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.2%), while the prices for the other major destinations experienced a decline.

Price for Aluminium Waste and Scrap in the United States (CIF) - 2023

In July 2023, the average aluminium waste and scrap import price amounted to $1,759 per ton, with a decrease of -3.7% against the previous month. Over the period under review, the import price continues to indicate a slight descent. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 16% month-to-month. Over the period under review, average import prices hit record highs at $2,192 per ton in July 2022; however, from August 2022 to July 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Mexico ($1,793 per ton), while the price for South Africa ($1,440 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Canada (-1.8%), while the prices for the other major suppliers experienced a decline.

Exports of Aluminium Waste and Scrap in the United States

In 2022, approx. 1.9M tons of aluminium waste and scraps were exported from the United States; shrinking by -7% on 2021. The total export volume increased at an average annual rate of +2.1% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, the exports attained the peak of 2.1M tons, and then declined in the following year.

In value terms, aluminium waste and scrap exports reduced notably to $2.9B in 2022. In general, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +10.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 71%. As a result, the exports attained the peak of $3.7B, and then declined sharply in the following year.

Top Export Markets for Aluminium Waste and Scrap from the United States in 2022:

1. India (451.4K tons)
2. Malaysia (381.9K tons)
3. South Korea (288.4K tons)
4. Mexico (173.6K tons)
5. Hong Kong SAR (132.2K tons)
6. Thailand (113.1K tons)
7. Canada (111.7K tons)
8. China (15.4K tons)

Imports of Aluminium Waste and Scrap in the United States

In 2022, imports of aluminium waste and scraps into the United States reduced to 598K tons, dropping by -9.5% on 2021 figures. The total import volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 25%. As a result, imports attained the peak of 661K tons, and then shrank in the following year.

In value terms, aluminium waste and scrap imports reduced rapidly to $932M in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +5.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 84% against the previous year. As a result, imports reached the peak of $1.2B, and then shrank markedly in the following year.

Top Suppliers of Aluminium Waste and Scrap to the United States in 2022:

1. Canada (377.5K tons)
2. Mexico (173.9K tons)

Source: IndexBox Market Intelligence Platform