Chicago 12/07/2016 - Aluminum imports of ingot, scrap and mill products into the US and Canada (excluding cross-border trade) totalled 650 million pounds or 294,000 tonnes in May, up 14.9 percent year-on-year, according to the Aluminum Association.
Including scrap, which accounted for roughly 47 percent of reported aluminium exports in May, exports totalled 578 million pounds or 262,000 tonnes, up 8.5 percent from a year ago. Excluding scrap, exports totalled 309 million pounds or 140,000 tonnes, up 32.1 percent over last year. Exports of scrap decreased 10.0 percent year-over-year, the trade group said.
Through the first five months of 2016, total imports were up 11.1 percent to 3.136 billion pounds (1.42 million tonnes) while exports were up 1.1 to 2.492 billion pounds (1,130,000 tonnes).
In comparison to April, the May figures show aluminium imports continuing to outpace the previous year with last month showing a 14.5 percent increase compared to April 2015.
The US has been the world strongest market for both demand and premiums in 2016 and therefor has attracted large volumes of imports.
But the increase in imports has pushed the US midwest aluminum premium to a five-year low of 6.9-7.0 cents per pound.
(Editing by Tom Jennemann)