In May 2023, domestic primary aluminum production in the United States was reported at 65,000 metric tons (t). The average daily production remained steady at 2,090 t compared to April 2023, but it was 23% lower than May 2022 and 14% lower than May 2021. Total aluminum recovered from scrap in May 2023 was 272,000 t, unchanged from the revised April 2023 figure. This marked a 5% decline from May 2022, with essentially no change from May 2021. Of the total, 148,000 t of aluminum were recovered from new scrap, while 125,000 t were recovered from old scrap.
Regarding prices and stocks, the May 2023 average U.S. spot market price of primary aluminum ingot stood at $1.27 per pound, representing a 4% decrease from April 2023. It also showed declines of 23% compared to May 2022 and 7% compared to May 2021. Similarly, the average cash price of primary aluminum ingot on the London Metal Exchange (LME) in May 2023 was $1.03 per pound, reflecting a 3% decrease from April 2023, a 20% drop from May 2022, and a 7% decrease from May 2021. Inventories of primary aluminum in LME-approved warehouses in the United States remained stable at 3,349 t at the end of May 2023, the same as April 2023. However, inventories of secondary aluminum (North American Secondary Aluminum Alloy Contract) in LME-approved warehouses decreased by 7% to 993 t at the end of May 2023 compared to the end of April 2023.
In recent developments, Norsk Hydro ASA acquired Polish aluminum recycler Alumetal S.A., expanding its offerings of post-consumer scrap-based and low carbon recycled aluminum products. The acquisition includes one plant in Hungary and three plants in Poland with a combined aluminum alloy casting capacity of 275,000 metric tons per year. Meanwhile, United Company RUSAL Plc announced the production of low carbon aluminum using inert anode technology at its Krasnoyarsk aluminum smelter in Russia. The technology was verified to produce only 0.01 metric tons of carbon dioxide equivalent per metric ton of metal.
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