North America’s aluminium industry analysis: Demand starts turning to a positive trend after a gloomy 2023
The market dynamics of the aluminium industry in North America are gradually displaying a positive change, with a demand recovery in Q4 2023, as indicated by the preliminary estimates of the Aluminum Association. Even the beginning of 2024 has set a progressive tone, as the association’s index of net new orders of aluminium bill products hit 114.5 (baseline index of 100), the highest level since June 2022.
Market Analysis
Until the third quarter of 2023, aluminium demand in North America was sluggish, contracting by 4.4 per cent year-on-year to about 20,908 million pounds. That led to a downfall in the full-year demand by about 3.9 per cent, totalling 26,271 million pounds, compared to 27,337 million tonnes a year ago. The recovery in Q4 slightly offset the annual fall.
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