Report Shows Domestic Aluminum Demand Up 4.6% Through Q3 2024

Report Shows Domestic Aluminum Demand Up 4.6% Through Q3 2024

Aluminum Demand Continuing Strong Pace

- 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 4.6% through the first three quarters of 2024.

"This continued demand growth reflects the aluminum industry's strength and ability to compete in a dynamic marketplace," said Charles Johnson, president & CEO of the Aluminum Association. "While there may be some uncertainty ahead, aluminum will continue to be a critical material used to build a stronger, more sustainable America, and the industry stands ready to deliver."

Among key takeaways from the report:

• Aluminum demand in the United States and Canada (shipments by domestic producers plus imports) totaled an estimated 20,712 million pounds through Q3 2024, compared to the Q3 2023 total of 19,798 million pounds.
• Sheet & plate products saw 6.9% year-over-year demand growth through the third quarter while foil, extrusions and electrical products showed declines.
• In total, semi-fabricated - or "mill" - product demand was up 2.5% year-over-year through Q3.
• Aluminum exports (excluding scrap) to foreign countries increased 23.3% in the third quarter.
• At 107.13, the Association's Index of Net New Orders of Aluminum Mill Products (baseline index of 100) increased 1.2 percent over year-to-date 2023 (through November).
• Imported aluminum and aluminum products into the North America (US and Canada) have decreased 8% through Q3 2023.

In the last decade, Aluminum Association member companies have announced more than $10 billion in investments for domestic manufacturing operations to meet 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.