The additional investments by other firms have totalled more than $4 billion in recent months, the Association noted.
SEATTLE (Scrap Monster): The preliminary estimates released by the Aluminum Association suggests that the aluminium industry in North America registered 6.6% demand growth through the initial six-month period of the current year. It must be noted that the demand levels had reported 8% year-on-year rise in 2021.
Since the previous year, member companies of the Association announced more than $3.7 billion in domestic manufacturing operations. This includes the new U.S.-based greenfield facilities. The additional investments by other firms have totalled more than $4 billion in recent months, the Association noted.
Charles Johnson, president & CEO of the Aluminum Association commented that the U.S. aluminium industry has been witnessing strong demand and truly unprecedented levels of investment recently. America is one of the world’s best places to make aluminium, he added. Furthermore he foresees a strong, vibrant domestic industry for years to come.
The North American aluminium demand totaled an estimated 14.1 billion pounds through June. Sheet and plate products led the growth in demand, surging higher by 12.5% over the previous year. The demand for electrical wire and cable too were up by 9.2% in H1 2022. The aluminium exports to overseas countries declined by 18%, whereas imported aluminum and aluminum products grew by 35.7%.
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