According to the latest update from the U.S. Geological Survey, primary aluminum production in the United States reached 57,000 metric tons in December 2024. The average daily production for the month was 1,850 metric tons, slightly up from 1,840 metric tons in November 2024 but down by 10% compared to both December 2023 and December 2022. For the entire year of 2024, domestic primary aluminum production totaled 676,000 metric tons, a decrease of approximately 10% from the 750,000 metric tons produced in 2023, reflecting ongoing challenges within the industry.
The average daily production for 2024 remained at 1,850 metric tons, which is also a reduction of 10% compared to the previous year and down 13% from 2022 levels. The December 2024 average spot market price for primary aluminum ingot was reported at $3,042 per metric ton (equivalent to $1.38 per pound), slightly lower than November’s price of $3,058 per metric ton but up by 17% compared to December 2023 and by 7% compared to December 2022. These price fluctuations indicate a complex market environment influenced by various factors.
The overall decrease in production can be attributed to reduced domestic smelting capacity and ongoing geopolitical tensions affecting global supply chains. In recent years, several smelters have operated at reduced capacity or have been temporarily shut down, impacting overall output. The U.S. has also implemented tariffs on imported aluminum products, further complicating market dynamics.
Despite these challenges, analysts remain cautiously optimistic about the future of aluminum production in the U.S., noting that improvements in technology and efficiency could help stabilize output levels moving forward. The industry continues to adapt to changing market conditions while seeking opportunities for growth and expansion.
