The growing use of aluminum by transport and packaging firms in the United State...
LONDON - The growing use of aluminum by transport and packaging firms in the United States has created an abundance of scrap and is encouraging recyclers to expand capacity in what industry analysts see as the start of a new trend.
Canada-based Matalco is also planning a new $80 million aluminum recycling facility in Wisconsin while JW Aluminium is expanding its facility in Goose Creek in South Carolina at a cost of $255 million. A proxy for auto scrap is the LME’s aluminum alloy contract CMNA3 which fell by more than half to $1,000 a tonne in October from above $2,000 in April 2018. It is now at $1,230.
It also reckons the United States generated 5.9 million tonnes of scrap aluminum last year, up about 20% since 2016. Of that about 5 million tonnes was recycled domestically, while the rest was exported. Data from the Aluminium Association shows aluminum use in passenger cars and light trucks climbed 23% to 6,080 million lbs between 2007 and 2017. Overall, aluminum use in transport rose nearly 20% to 9,625 million lbs in the same period.
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