US
Production of primary aluminum in the United States declined 3.4% in June 2020 when compared to May 2020 on month-over-month basis. On year-over-year basis also, it declined 2.8% compared to June 2019. The US aluminum market declined due to shutdowns, restricted manufacturing activities, and disrupted supply chains due to the COVID-19 pandemic. The coronavirus pandemic has obliterated the US aluminum demand as one of the main end uses, automotive applications, has seen major disruptions in the supply chain. Further drop in demand for aluminum in the US is expected due to decline in construction and electrical end use markets.
Asia
The Asian aluminum market declined in June 2020 on month-over-month basis. Conversely, production of aluminum increased in China as compared to previous month. China is the world’s largest aluminum producer. The Chinese aluminum scrap price rose 3.8% month over month in June 2020. In the coming months, aluminum demand is expected to increase in Asia due to the growth in end use markets, such as construction, transportation, and electrical sectors, which give hope of improvement in the demand for the aluminum market.
Europe
Aluminum exporters in the European region are Russia, Norway, and Iceland, each saw declines in June, 2020 when compared on year-over-year basis. This is due to tensions on the aluminum supply chain caused by trade issues at the global level. Demand for aluminum was also hit hard by COVID-19 pandemic in the European region, as the automotive sector was completely shut down. The European aluminum market is likely to improve in July, driven by demand in applications and most end use markets, such as construction, automotive, electrical, and consumer goods.
The price and demand analysis on above is published monthly for various regions. Lucintel analysts collect supply, demand and price data from various suppliers and consumers on a monthly basis and also analyzes news on supply and demand issues, production, and price trends. This allows Lucintel to publish unbiased assessments on price and demand movements to help you make confident business decisions on your negotiation or business issues.
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