Aluminum Association: North American Demand Dipped in 2023

SEATTLE (Scrap Monster): According to preliminary estimates released by the Arlington, Virginia-based Aluminum Association, the North American aluminum demand registered decline by 3.9% during the previous year. This is inclusive of shipments by producers in the U.S. and Canada as well as imports.

As per report, the combined aluminum demand in the U.S and Canada totalled around 26,271 million pounds in 2023. This is in comparison with 27,337 million pounds demand recorded in 2022. Also, the domestic aluminum industry has witnessed a compounded annual growth rate (CAGR) of 2.4% since 2009.

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The Aluminum Situation statistical report further pointed to slight recovery in industrial demand for the metal in the final quarter of 2023, ending close to 2021 demand. The domestic demand surge was mainly driven by reduced imports during the year, the report said. It must be noted that imports dropped by nearly one-fourth, amidst flat domestic producer shipments.

In line with Global Recycling Day, the Association released a new video highlighting aluminum’s sustainable properties and its varied uses across multiple sectors including automotive, building and construction, packaging and aerospace, to name a few.