ARLINGTON, VA, June 05, 2023 (GLOBE NEWSWIRE) -- The Aluminum Association released preliminary estimates as part of its monthly Aluminum Situation statistical report showing demand for the aluminum industry in North America (U.S. and Canada) declining 3.5% through the first quarter of 2023. This follows estimated 4.8% demand growth through the end of 2022 and comes during a period of significant investment by U.S. aluminum producers, fabricators and recyclers.
“The picture for the U.S. aluminum industry remains very strong,” said Charles Johnson, president & CEO of the Aluminum Association. “Looking ahead, demand for recyclable and sustainable materials, ongoing infrastructure investment and robust trade enforcement are all making America a very attractive place to make aluminum – as evidenced by the fastest pace of investment for the industry in decades.”
Since 2021, Aluminum Association member companies have announced nearly $6 billion in domestic manufacturing operations ($9 billion over the last decade) – including new, U.S.-based greenfield facilities for the first time since the 1980s. And a recent automaker survey by consultancy Ducker Carlisle showed that aluminum use will grow by around ~100 pounds per vehicle from 2020 to 2030 as electric vehicles continue to penetrate the market.
Among key takeaways from the report:
- Aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 6.1 million pounds in the first quarter compared to 6.5 million in the first quarter of 2022.
- Aluminum foil and electrical wire & cable saw increased year-over-year demand growth in the first quarter, 3.8% and 7.9%, respectively.
- In total, semi-fabricated – or “mill” – product demand was off 7.3% year-over-year through the first quarter.
- Aluminum exports (excluding scrap) to foreign countries increased 18.5% in the quarter.
- At 106.98, the association’s Index of Net New Orders of Aluminum Mill Products (baseline index of 100) has shown a decline of 8.2% year-to-date.
- Imported aluminum and aluminum products into North America (US and Canada) have fallen by 24.2% year-over-year in the quarter after growing 26.8% in 2022.
The Aluminum Situation report is one of more than two-dozen ongoing industry statistical reports developed exclusively by the Aluminum Association through surveys of aluminum producers, fabricators and recyclers. Subscribers to the Aluminum Association statistical reports have access to an online portal with data users can manipulate directly to produce interactive, presentation-ready charts and graphs.
To learn more about the Aluminum Association’s statistical offerings or to subscribe, visit www.aluminum.org/statistics.
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About The Aluminum Association
The Aluminum Association represents aluminum production and jobs in the United States, ranging from primary production to value added products to recycling, as well as suppliers to the industry. The association is the industry’s leading voice, representing companies that make 70% of the aluminum and aluminum products shipped in North America. The association develops global standards, business intelligence, sustainability research and industry expertise for member companies, policymakers and the general public. The aluminum industry helps manufacturers produce sustainable and innovative products, including more fuel-efficient vehicles, recyclable packaging, greener buildings and modern electronics. In the U.S., the aluminum industry supports $176 billion in economic activity and more than 634,000 jobs. For more information visit https://www.aluminum.org or find us on Twitter, LinkedIn, Facebook or Instagram.
