Year-on-year, the import volume in the second quarter edged a decline of 16.59 per cent from 1.127 million tonnes, which primarily resulted in a downward trajectory through H1 2024. The year-on-year growth in the United States Q1 imports of about 5.8 per cent (from 861,000 tonnes to 911,000 tonnes) was too little to mitigate the overall downturn.
According to the US Geological Survey, the United States aluminium crude metal and alloy imports through the first half of 2024 totalled 1.85 million tonnes versus 1.99 million tonnes in H1 2023.
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Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
