Aluminum Scrap Markets
April 27, 2026
Gränges Q1 volumes rise on share gains as pricing drives Americas profitability
Written by Nicholas Bell
Gränges reported first-quarter sales volume of 159.8 ktonnes, up 5.4% from 151.6 ktonnes a year earlier, marking the company’s ninth consecutive quarter of year-over-year growth.
The company said growth was driven by market share gains across regions, offsetting continued weak demand in key end markets including automotive and HVAC. The company is headquartered in Sweden with operations in the United States.
Overall volume growth
Total volume increased by 9.2 ktonnes year over year. Europe accounted for the largest share of that increase, with volume rising 7.5 ktonnes, while the Americas added 1.8 ktonnes and Asia declined by 0.9 ktonnes.
Despite Europe contributing the majority of incremental tonnes, earning expansion remained more evenly supported by pricing and product mix across regions.
Gränges Americas
Gränges Americas reported sales volume of 62.3 ktonnes in the first quarter, up 3% from 60.5 ktonnes in the prior year period. On a per-tonne basis, adjusted operating profit in the Americas increased to 6.1 thousand Swedish Krona (kSEK), or approximately $661 per metric ton, from 5.3 kSEK in 2025.
The Americas accounted for roughly 22% of volume growth but generated about 78% of total adjusted operating profit in the quarter.
Automotive and specialty packaging shipments each increased about 12% year over year to 7.7 ktonnes and 20.0 ktonnes, respectively.
HVAC volumes declined 1% to 25.0 ktonnes. Shipments to “other niches,” which includes building and industrial applications as well as electric vehicle battery markets, fell 7% to 9.5 ktonnes.
That breakdown mirrors longer-running dynamics in the region. HVAC, which represents the largest share of Americas volume, has been moving through a destocking phase in recent quarters. In that context, the relatively small year-over-year decline suggests that inventory normalization may be stabilizing, which was echoed by management on the earnings call.
Speciality packaging, by contrast, continue to expand, and comprised roughly one-third of Americas’ volume. Automotive gains were also notable given broader weakness reported elsewhere in the aluminum market.
Automotive growth and niche exposure
Gränges reiterated demand conditions remained weak across regions and markets, including automotive.
However, the company reported automotive volumes increased due to market share gains and new business.
That performance contrasts with broader industry signals. Aluminum industry reports have noted declines in new orders for sheet products, many of which are typically associated with the automotive sector, as well as aluminum extrusions, alongside at least one producer reported lower sales volumes of automotive extrusions specifically in recent earnings. Similar caution has also been reflected by automotive assemblers.
Otherwise, management noted improved profitability in the US was supported by renegotiated contracts under better market conditions, resulting in higher pricing that is expected to remain in place through the year. The company did not attribute these contract changes to any specific end market, though.
Recycled material
Gränges sourced 78 ktonnes of recycled aluminum in the quarter, up from 71 ktonnes a year earlier, representing 46.3% of total sourced metal input compared with 42.4% previously.
The increase in recycled input was driven primarily by the Americas, reflecting a lower share of primary ingots in casting, the company said.
Applying Gränges’ 2025 sustainability report results to first-quarter volumes, the Americas would imply roughly 39 ktonnes of recycled input, based on 62.3 ktonnes of shipments. This would account for about half of Gränges’ total recycled aluminum usage in the quarter, while the region represents roughly 39% of total shipments.
In the 2025 report, the Americas accounted for 55% of the group’s recycled metal consumption indicating a structurally higher reliance on scrap in the region relative to its total share of volume.
The figures suggest the increase in recycled content at the group level continues to be driven disproportionately by the Americas, reinforcing its exposure to scrap spreads relative to primary metal inputs.
Gränges noted increased metal premiums in Europe had improved recycling margins and provided positive timing effects, while reduced pressure on spreads is expected to support earnings year over year.
Gränges outlook
Gränges expects second-quarter sales volume to grow at a mid- to high-single-digit rate year over year, supported by continued market share gains.
The company said market demand remains weak and difficult to predict, while currency effects, cost increases and price pressure in Asia are expected to persist.
