NEW YORK (Commodity Online): The United States continued to be slightly reliant upon Aluminium imports in 2011, as domestic primary production increased from that in 2010 but still remained at significantly lower levels than in 2008, although exports of scrap continued to increase, said the Institute U.S. Geological Survey (USGS) in a research note.
According to USGS, Canada, Russia, and the United Arab Emirates accounted for about 71% of total U.S. imports. Total aluminum exports from the United States increased by 10% in 2011 compared with the amount exported in 2010, and total imports of aluminum in 2011 were slightly higher than the amount imported in 2010. China, Canada, and Mexico, in descending order, received approximately 79% of total United States exports. Scrap exports to China accounted for 40% of total aluminum exports.
The monthly average U.S. market price for primary ingot quoted by Platts Metals Week started the year at $1.163 per pound and reached a peak of $1.283 per pound in April. The monthly average price began a downward trend, reaching $1.166 in August. Prices on the London Metal Exchange (LME) followed the trend of U.S. market prices.
