The USGS data showed the average daily primary aluminium production in the United States during August 2023 was 2,000 tonnes, down by 2.91 per cent from 2,060 tonnes in July and essentially unchanged compared to 1,980 tonnes in August 2022.
Total aluminium recovered from scrap in August 2023 was higher than the previous month by 6,000 tonnes or 2.19 per cent to 280,000 tonnes but 5 per cent less than 295,000 tonnes in August 2022. Of the total aluminium recovered from scrap, 147,000 tonnes was recovered from new scrap and 132,000 tonnes from old scrap.
The August 2023 average US spot market price of primary aluminum ingot was US$1.19 per pound, slightly less than that in July 2023 and 13 per cent down from that in August 2022. The average cash price in August 2023 of primary aluminum ingot on the London Metal Exchange (LME) was US$0.97 per pound, essentially unchanged from that in July 2023 and 12 per cent less than that in August 2022.
Inventories of primary aluminium in LME-approved warehouses, including off-warrant inventories, in the United States were 3,627 tonnes at the end of August 2023, reflecting an increase of 13 per cent than that at the end of July 2023. Meanwhile, inventories of secondary aluminium in LME-approved warehouses, including off-warrant inventories, in the United States registered a fall of 6 per cent month-on-month, standing at 620 tonnes at the end of August.
US employment data falls short of expectations, aluminium ingot continues destocking trend this week
