Aluminum demand in North America (U.S. and Canada) continued to surge in the first quarter – up 5.3% through March, according to initial estimates in our Aluminum Situation report. This is on top of 8.2% year-over-year demand growth (revised upward from 7.7%) in 2021. Learn more below or from Recycling Today.
Here’s what else you need to know this week:
We sent out a save the date for the Aluminum Association’s annual meeting in Washington, D.C. September 28 – 30. We are returning to the InterContinental Hotel at the Wharf on the Southwest Waterfront this year. Let’s hope for similarly great weather! Members of the association should click here to mark their calendar and book a room now. Registration is opening soon!
More than 50 companies including Apple, Ball, Boeing, Ford, Volvo and association member company Novelis announced a global “buyer’s club” pledging to buy aluminum, steel and other commodities from low carbon producers during this week’s World Economic Forum. Learn more about the First Movers Coalition here.
Markets recovered some losses this week, though some indices remain near bear market territory (defined as a 20% drop from recent highs) as recession fears continue. The nonpartisan Congressional Budget Office reckons that inflation has topped out in a relatively upbeat economic outlook.
The U.S. International Trade Commission (USITC) recently added five Harmonized Tariff Schedule (HTS) codes to its HTS schedule following a request by the Aluminum Association. The new codes will enable the industry to better track volumes of aluminum cans available for recycling. Learn more below.
