The cost of aluminum for consumers in Europe buying on the physical market has dropped due to expectations that Canadian shipments under U.S. tariffs from Tuesday will be diverted, physical market traders said.
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The U.S. is a major importer of aluminum used widely in the transport, packaging and construction industries, shipping in 5.46 million metric tons of aluminum products in 2023, according the U.S. Commerce Department.
According to the Commerce Department, Canada accounted for 3.08 million tons or 56 per centof aluminum product imports to the United States for domestic consumption in 2023, the latest full year data available.
Half of their imported aluminum, not half of the total. It’s an important distinction.
right, american production of aluminum metal is 1/4 of canadian production. it also critically depends on cheap elecrticity, canadians have nuclear powerplants and hydro, and guess what other funny thing canadians can do
it breaks down like this: american production of aluminum 750k tons, canadian 3000k tons, 10% exported to north america, so usa + mexico, let’s say it all goes to usa*, then it’s 300k which is half of imports, so total 1350k tons of which 300k tons disappeared. so closer to quarter. wiping away quarter of primary aluminum available will have consequences no matter how you cut it. better than tariffs
*some of these would be reexported as aluminum parts to usa, and it’s probably close to all anyway
Thanks for the numbers, makes a clearer portrait.
Oh, what’s this gonna be? Go out for a rip?
Oh
i misinterpreted certain statistics first time around, which suggested that potential canadian impact on available primary aluminum in us would be lower. canadians also export lots of oil and gas south, and there’s plenty of gas powerplants in us