According to a latest update from the United States Geological Services (USGS), the US domestic primary aluminum production in January 2024 was 63,000 metric tons (t). The average daily production in January 2024 was 2,020 t, slightly less than that in December 2023, essentially unchanged from that in January 2023, and 24% less than that in January 2022. Total aluminum recovered from scrap in January 2024 was 275,000 t, 3% more than the revised amount in December 2023, slightly less than the revised amount in January 2023, and 5% more than that in January 2022. Of this, 154,000 t of aluminum was recovered from new scrap, and 121,000 t was recovered from old scrap. The January 2024 average U.S. spot market price of primary aluminum ingot was $1.19 per pound, essentially unchanged from that in December 2023, 16% less than that in January 2023, and 30% less than that in January 2022. The average cash price in January 2024 of primary aluminum ingot on the London Metal Exchange (LME) was $1.00 per pound, essentially unchanged from that in December 2023, 12% less than that in January 2023, and 27% less than that in January 2022.
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