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US Aluminum |
US imports of unwrought aluminum decreased in October 2024 compared to the same period last year, with notable reductions from South Africa and Qatar.
Marginal Decline in October Imports
The United States imported 355,000 metric tonnes of unwrought aluminum under harmonized tariff code 7601 in October 2024, a slight decrease from 362,000 tonnes in October 2023, according to US customs data. This reflects the ongoing adjustments in the global aluminum supply chain.
Major Shifts Among Key Suppliers
- South Africa, the fourth-largest supplier, experienced a significant drop, with shipments halving to 14,000 tonnes from 27,000 tonnes a year earlier.
- Qatar’s aluminum exports to the US plummeted by 11,000 tonnes to a modest 4,000 tonnes.
- In contrast, India saw the largest year-over-year increase, sending 20,000 tonnes, up by 17,000 tonnes.
- Canada, the leading supplier of US aluminum, accounted for approximately 68% of total imports, delivering 241,000 tonnes in October—an increase of 7,000 tonnes from the previous year.
Year-to-Date Trends
From January to October 2024, total US imports of unwrought aluminum reached 3.34 million tonnes, marking a 5.3% decline compared to 3.53 million tonnes during the same period in 2023.
- Australia registered the sharpest contraction, with exports narrowing to 60,000 tonnes, down from 199,000 tonnes.
- UAE shipments also decreased significantly, totaling 382,000 tonnes, down from 479,000 tonnes a year earlier.
- Canada bucked the trend with a year-to-date increase, supplying 2.3 million tonnes, up from 2.2 million tonnes.
Global Market Implications
The shifts in US aluminum imports highlight changing dynamics in global trade and production capacities. Canada’s dominant position reflects its proximity and trade agreements, while reductions from South Africa and Qatar underscore broader supply challenges. India’s surge in exports signals its growing role in meeting US demand, likely supported by competitive pricing and capacity expansions.
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