According to the latest data from the United States Geological Survey, domestic primary aluminum production in the US saw a notable decline in February 2024, registering at 52,000 metric tons. This marks an 11% decrease from January 2024, a 15% decrease from February 2023, and a significant 33% decrease from February 2022. The average daily production also dipped to 1,790 metric tons.
In contrast, the total aluminum recovered from scrap in February 2024 increased to 293,000 metric tons, showing a 6% increase from January 2024, a 4% increase from February 2023, and a 3% increase from February 2022. This rise indicates a growing efficiency and reliance on recycled materials within the industry amidst declining primary production rates.
The contrasting trends highlight the shifting dynamics in the aluminum sector, where recovery and recycling are playing increasingly significant roles against the backdrop of reduced primary production. This shift could potentially influence market strategies and investment in recycling technologies moving forward.
