Aluminum Demand Rises 4.6% Through First Three Quarters of 2024
Demand for aluminum industry products in the U.S. and Canada increased by 4.6% year-over-year through the first three quarters of 2024, totaling 20.7 million pounds, according to the Aluminum Association. This growth highlights the aluminum industry's resilience and its critical role in sustainable development.
Growth in Sheet and Plate Products
Sheet and plate products led the growth, with a 6.9% year-over-year increase in demand through the third quarter. However, other segments like foil, extrusions, and electrical products experienced declines. Despite these variations, the overall demand for semi-fabricated products rose by 2.5% compared to the same period in 2023.
Decline in Aluminum Imports
Aluminum and aluminum product imports fell by 8% during the same period, underscoring a shift in market dynamics. Charles Johnson, President and CEO of the Aluminum Association, emphasized the industry's ability to adapt and compete in a dynamic marketplace. "While there may be some uncertainty ahead, aluminum will remain a critical material for building a stronger, more sustainable America," Johnson stated.
This growth trajectory positions the aluminum industry as a key player in supporting infrastructure and sustainability initiatives across North America.
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