There was a drop in aluminum demand in the US and Canada. The estimated aluminum demand, including shipments from domestic producers and imports, amounted to 6.1 million pounds, showing a decrease from 6.5 million pounds during the same period the previous year.
Within this timeframe, the demand for aluminum foil witnessed a growth of 3.8% compared to the previous year, while the demand for electrical wire and cable increased by 7.9%. On the other hand, there was a decrease of 7.3% in the demand for semi-finished or finished aluminum products when compared to the previous year.
Furthermore, there was a notable increase of 18.5% in aluminum exports (excluding scrap) during the first quarter, in contrast to a 24.2% decline in imports of aluminum and aluminum products. This decline in imports is in contrast to the substantial increase of 26.8% observed in 2022.