North American aluminum demand drops in Q1-Q3 2023
Time:Tue, 09 Jan 2024 05:22:30 +0800
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According to the Aluminum Association, in the first three quarters of 2023, domestic aluminum demand in North America (the US and Canada) totaled nearly 20,000 million pounds, dropping by 4.4% compared to the same period a year ago, and the demand in the first half of the year fell by 4.5%.
The shipment in 2022 closed to the record high and stayed near the ten-year average, said Charles Johnson, president and CEO of the Aluminum Association.
The association members have announced investments of more than US$9 billion in domestic manufacturing operations over the past ten years. The investment has reached nearly US$6 billion since 2021. The increase was mainly due to the growing demand for sustainable packaging, safe and efficient vehicles, green buildings, and critical infrastructure.
It was expected that the aluminum market in North America would recover in the second half of this year unless there is a major downturn in manufacturing, and the demand for scrap would also soar accordingly.
