Aluminum Demand Slips in First Quarter
By Metal Center News Staff
on Jun 7, 2023
Demand for aluminum in the United States and Canada declined 3.5 percent in the first quarter compared with the same month in 2022, the Aluminum Association reported. Aluminum demand totaled 6.1 million pounds during the first three months of the year.
During the first quarter, aluminum foil and electrical wire and cable saw increased year-over-year demand growth of 3.8 percent and 7.9 percent, respectively. Demand for semi-fabricated, or mill product, was down 7.3 percent year over year in the first quarter.
“The picture for the U.S. aluminum industry remains very strong,” said Charles Johnson, president and 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.”
Other notable developments in the first quarter included an 18.5 percent increase of aluminum products and a 24.2 percent decline in imported aluminum and aluminum products.
For the full year 2022, aluminum demand increased 4.8 percent. Aluminum imports were up 26.8 percent last year.