Aluminum Ingot Imports to be Lowest in a Decade, 2023 Forecast is 1.05-1.1 Million Tons

Aluminum ingot imports in 2023 are likely to remain at the lowest level in the past 10 years. The result for January-October was 885,304 tons.

If the current import pace of less than 100,000 tons per month continues, the annual imports are expected to be about 1.05-1.1 million tons.

It is expected to be lower than the 1.169514 million tons in 2008, which was the lowest in recent history due to the new coronavirus disaster.

The decline in imports is due to a decrease in supply to Japan, where premiums (surcharges) are less expensive, sluggish demand, and the time it is taking to consume intermediate inventories.