North American Aluminum Demand Saw Strong Rebound in 2024

SEATTLE (Scrap Monster): According to the Aluminum Association's preliminary estimations, North America's demand for aluminum increased by 3.4% annually in 2024.

The report states that over the previous year, the combined demand for aluminum in the United States and Canada was close to 26,969 million pounds. This contrasts with the previous year's demand of 26,087 million pounds. In the meantime, producer shipments from plants in the United States and Canada were anticipated to have reached 23,729 million pounds in 2024, a 3.2% increase over the 22,987 million pounds in 2023.

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The demand for mill products increased slightly by 3.4% annually. In 2024, U.S. and Canadian exports of aluminum ingot and mill products increased by 12.8%. In contrast, the North American region's imports of aluminum and aluminum-related products had a 4.2% decrease in the previous year.

Over $10 billion in investments for domestic manufacturing activities have been announced by the Aluminum Association's member firms. Since 2021, more than half of the aforementioned investments have been disclosed.

In 2024, the regional demand for aluminum was close to reaching record levels, according to Charles Johnson, president and CEO of the Aluminum Association. According to him, aluminum will continue to be a crucial component of infrastructure, packaging, transportation, and even defense gear in the future.