May 2023 Sees U.S. Aluminium Tube Exports Surge by 11% to $49M on Average
U.S. Aluminium Tube Exports
In May 2023, exports of aluminium tubes, pipes and tube or pipe fittings from the United States expanded rapidly to 5.2K tons, growing by 12% on April 2023 figures. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when exports increased by 22% against the previous month.
In value terms, aluminium tube exports rose remarkably to $49M (IndexBox estimates) in May 2023. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in January 2023 when exports increased by 28% against the previous month.
Exports by Country
Mexico (3.7K tons) was the main destination for aluminium tube exports from the United States, with a 71% share of total exports. Moreover, aluminium tube exports to Mexico exceeded the volume sent to the second major destination, Canada (945 tons), fourfold.
From May 2022 to May 2023, the average monthly rate of growth in terms of volume to Mexico was relatively modest.
In value terms, Mexico ($29M) remains the key foreign market for aluminium tube exports from the United States, comprising 59% of total exports. The second position in the ranking was taken by Canada ($11M), with a 21% share of total exports.
From May 2022 to May 2023, the average monthly rate of growth in terms of value to Mexico was relatively modest.
Exports by Type
Aluminium; tubes and pipes (4.4K tons) was the largest type of aluminium tube exported from the United States, accounting for a 85% share of total exports. Moreover, aluminium; tubes and pipes exceeded the volume of the second product type, aluminium tube or pipe fittings (801 tons), sixfold.
From May 2022 to May 2023, the average monthly growth rate of the volume of export of aluminium; tubes and pipes was relatively modest.
In value terms, the most traded types of aluminium tubes, pipes and tube or pipe fittings in the United States were aluminium; tubes and pipes ($32M) and aluminium tube or pipe fittings ($17M).
Aluminium pipe fittings, with a CAGR of +0.7%, saw the highest growth rate of the value of exports, in terms of the main product categories over the period under review.
Export Prices by Country
In May 2023, the aluminium tube price amounted to $9,465 per ton (FOB, US), leveling off at the previous month. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 4.8% against the previous month. Over the period under review, the average export prices reached the peak figure at $10,001 per ton in November 2022; however, from December 2022 to May 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major foreign markets. In May 2023, the country with the highest price was Canada ($11,193 per ton), while the average price for exports to Mexico stood at $7,855 per ton.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.5%).
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