Aluminum Association to Foster Efforts to Rein In Unfair Metal Trade

SEATTLE (Scrap Monster): The Aluminum Association lauded the plan proposed by the U.S. and Mexico to jointly fight the impact of unfairly traded aluminum in North America. The plan pre-empts entry of aluminum products smelted and cast in Belarus, China, Iran and Russia into the U.S.

Commenting on the development, Charles Johnson, president & CEO of the Aluminum Association, stated that the announcement will help to safeguard North America as one of the best places in the world to make aluminum and aluminum products. 

The industry has invested more than $10 billion in new and expanded U.S. facilities over the past decade, including investment of nearly $200 million so far this year. The partnership with USMCA countries on strong trade enforcement will drive investment in the region, create hundreds of new jobs and help regional companies to capture the projected demand surge during upcoming years, Johnson said.

The demand for aluminum in North America had hit its highest level since 2022 during the initial quarter of the year. The demand in the U.S. and Canada posted year-on-year growth by 4.3% in Q1 this year. It must be noted that the global aluminum output is projected to witness nearly 80% growth by 2050. The increasing sustainability requirement will emerge as the key driver of future demand for the material.

YOU MAY ALSO BE INTERESTED IN:

Aluminum Association: North American Demand Dipped in 2023

CME Group: Aluminum Contracts Extended Growth Momentum in 2023