Primary aluminum imports are growing in the USA

The increase in the price of aluminum on the London Metal Exchange spurred the aluminum market in the United States. Most of the aluminum supply comes from Canada, and in October, imports from that country increased to 268,000 tons, which is the equivalent of almost 1.9 million tons per year. This indicates a 25 percent increase in imports from the previous month, and almost 17 percent from the same month a year earlier.

However, the growth in aluminum imports from Canada is on a downward trend as shipments from the country are expected to decline next year as Rio Tinto's Kitimat aluminum smelter is temporarily closed to replace old technologies with state-of-the-art processes. The plant occupies a leading position in the rolling and production of primary aluminum. This upgrade will help the company produce around 420,000 tonnes of aluminum when the plant resumes operations next year.

Imports of aluminum from Russia fell. As a result, the price of aluminum continues to rise globally, and as demand is not expected to decline, at the current price, all aluminum factories are increasing revenues.

According to the largest aluminum suppliers, Japanese buyers are willing to pay $ 435- $ 445 per ton for aluminum shipments in January-May next year, which indicates an increase of about 4.8 percent over the previous quarters.