U.S.: Secondary Aluminum Market 2024

Secondary Aluminum Market Size in the U.S.

After two years of growth, the U.S. secondary aluminum market decreased by X% to $X in 2023. Over the period under review, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the market value increased by X%. Secondary aluminum consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Secondary Aluminum Production in the U.S.

In value terms, secondary aluminum production shrank modestly to $X in 2023. The total output value increased at an average annual rate of X% from 2013 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

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Secondary Aluminum Exports

Exports from the U.S.

For the third year in a row, the United States recorded growth in overseas shipments of secondary aluminum, which increased by X% to X tons in 2023. Overall, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, secondary aluminum exports shrank markedly to $X in 2023. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

Malaysia (X tons), Mexico (X tons) and Canada (X tons) were the main destinations of secondary aluminum exports from the United States, with a combined X% share of total exports.

From 2013 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Malaysia ($X) and Canada ($X) constituted the largest markets for secondary aluminum exported from the United States worldwide, with a combined X% share of total exports.

Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average secondary aluminum export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price recorded a mild reduction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then dropped significantly in the following year.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Secondary Aluminum Imports

Imports into the U.S.

After two years of growth, supplies from abroad of secondary aluminum decreased by X% to X tons in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then contracted rapidly in the following year.

In value terms, secondary aluminum imports shrank sharply to $X in 2023. In general, imports, however, enjoyed tangible growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then plummeted in the following year.

Imports by Country

Canada (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the main suppliers of secondary aluminum imports to the United States, with a combined X% share of total imports.

From 2013 to 2023, the biggest increases were recorded for Bahrain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), the United Arab Emirates ($X) and Bahrain ($X) appeared to be the largest secondary aluminum suppliers to the United States, together accounting for X% of total imports. Qatar, Argentina, Mexico, Australia, India and Russia lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average secondary aluminum import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, import price indicated a moderate increase from 2013 to 2023: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, secondary aluminum import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2022, and then declined dramatically in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and Canada ($X per ton), while the price for India ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform