en.Wedoany.com Reported - Canadian aluminum producers have successfully developed alternative markets amid U.S. tariff hikes, with exports of unwrought aluminum and aluminum alloys in May reaching a nearly three-year high.

According to data released by Statistics Canada, the country's exports of unwrought aluminum and aluminum alloys surged more than 50% month-over-month in May to $850 million, the highest monthly level since May 2022. The agency attributed the growth to increased shipments to the Netherlands, Italy, and Greece. These aluminum products may be used to fill supply gaps caused by production and transportation disruptions due to conflicts in the Middle East.

Although the U.S. government's previous tariffs on Canadian-made steel and aluminum have negatively impacted some metal producers, the latest data indicates that Canada's aluminum industry is mitigating pressure through export market diversification. Driven by aluminum exports, Canada's overall metal ores and non-metallic minerals category grew 16% month-over-month in May, with most product groups recording increases. However, exports of unwrought gold, silver, and platinum group metals fell 4.1% during the month.

Overall, Canada's merchandise exports rose 0.9% month-over-month in May, while imports edged down 0.2%. The country's merchandise trade surplus with the world expanded from C$2.4 billion in April to nearly C$3 billion in May, marking the third consecutive month of a trade surplus.