Domestic Aluminum Demand Up 5.2% Through First Half of 2024

Domestic Aluminum Demand Up 5.2% Through First Half of 2024

Increased Sheet & Plate Shipments Drive Solid Recovery Through Midyear

As part of its monthly Aluminum Situation report, the Aluminum Association released preliminary estimates showing demand for the aluminum industry in North America (U.S. and Canada) increased 5.2% year-over-year through the first half of 2024. This follows a softer demand year in 2023 that was largely driven by a drop in imports of around one-quarter in 2023.

"2024 continues to be a strong year for aluminum demand," said Charles Johnson, president & CEO of the Aluminum Association. "Customers and end consumers have made it clear that they want sustainable, recyclable materials like aluminum. Our members are investing in production and jobs in the United States to help meet this demand both now and in the future."

Among key takeaways from the report:

• Aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 14,056 million pounds through the first half of 2024, advancing 5.2% over H1 2023 total of 13,365 million pounds
• In total, semi-fabricated - or "mill" - product demand remained largely steady year-over-year through Q2.
• Sheet and plate demand rose 7.5% year-over-year through Q2 while foil, extruded products and electrical markets showed declines.
• Aluminum exports (excluding scrap) to foreign countries are up 25.6% year to date.
• At 105.97, the Association's Index of Net New Orders of Aluminum Mill Products (baseline index of 100) increased 1.1% through June. year-to-date.
• Imported aluminum and aluminum products into the North America (US and Canada) have decreased 14% year to date.

In the last decade, Aluminum Association member companies have announced more than $10 billion in domestic manufacturing operations - including new, U.S.-based greenfield facilities for the first time since the 1980s. Aluminum is growing thanks to increased demand for sustainable packaging, safe and efficient vehicles, greener buildings and vital infrastructure.

The Aluminum Situation report is one of more than two-dozen ongoing industry statistical reports developed exclusively by the Aluminum Association through surveys of aluminum producers, fabricators and recyclers. Subscribers to the Aluminum Association statistical reports have access to an online portal with data users can manipulate directly to produce interactive, presentation-ready charts and graphs.

To learn more about the Aluminum Association's statistical offerings or to subscribe, visit www.aluminum.org/statistics.