The Aluminum Association Reported Robust Domestic Demand Through Q3 2024
Aluminum | 2025-01-13 19:28:30
Also, imports of aluminum and aluminum products into the North American region registered a decline of 8% through Q3 2024.
By Paul Ploumis
SEATTLE (Scrap Monster): According to the Aluminum Association's monthly Aluminum Situation report, preliminary estimates indicate that the demand for aluminum in the United States and Canada maintained a robust pace through the third quarter of last year. Through the first three quarters of 2024, the demand for aluminum in North America increased by 4.6%.
The analysis estimates that until Q3 2024, the combined demand for aluminum in the United States and Canada was 20.712 million pounds. This is in contrast to the 19.798 million pounds produced in Q3 of 2023. With a 6.9% increase in demand over the previous year, sheets and plates saw the biggest increase in demand over the period. Semi-fabricated goods saw a 2.5% increase in demand. Meanwhile, there were annual decreases in the demand for foil, extrusions, and electrical items.
Aluminum shipments to other nations, excluding scrap, increased by 23.3% in the third quarter of last year. Additionally, through Q3 2024, imports of aluminum and aluminum-related products into the North American region decreased by 8%.
In keeping with the industry's attempts to advance sustainability initiatives, the Aluminum Situation report also mentioned that over the last ten years, the member businesses had announced investments in domestic manufacturing activities totaling more than $10 billion.
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