AMU
November 22, 2024
Written by Marziyeh Horeh
The US Aluminum Association (AA) released its latest Index of New Orders for October. According to the report, total orders in October were down 0.6% y/y. The report this month marks an improvement from the September one which showed a contraction of 3.1% y/y, with weakness across all products with the exception of can and foil.
Recycler forward expectations swung toward oversupply in September as inventory drawdowns eased and export demand lost August’s improving responses.
Kibar Americas said production has started at its aluminum plant in Fairmont, W.Va., where it will manufacture products for the HVAC, packaging, automotive and industrial sectors.
China is bumping up against its official primary production capacity limit of 45.3 million metric tons/year, but production can still increase through “capacity creep.”
Automotive aluminum demand is rising as extrusions, sheet, and castings gain ground across vehicle applications and powertrains.
Recycler demand increased while fewer respondents reported sufficient obsolete scrap, even as inventory drawdowns remained widespread.