European aluminum foil demand recovers in Q2 2024
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Update time : 2024-09-05 15:46:23
According to the European Aluminium Foil Association (EAFA), after experiencing a disappointing figure in the first quarter, European shipments of aluminum foil recovered in the second quarter, which increased by 4.2% quarter on quarter and by 6.6% year on year to 227,000 tons.
Data released by the EAFA showed that domestic deliveries to Europe had strong growth, but exports were still sluggish.
Growth was most significant in thinner gauges, primarily used in flexible packaging and household foils, with a figure up by more than 8% compared to the same period a year ago.
The deliveries in the first half totaled 446,000 tons, a slight increase of 0.2%, confirming a recovery in the second quarter. Domestic sales rose by 3% but exports remained weak.
Bruno Rea, Chair of the EAFA Roller Group, said statistics showed the domestic demand is growing healthily, while the competitive situation is bound to have an impact as production in overseas markets has fully resumed. The EAFA is more optimistic due to improved demand in the first half of 2024 compared to the second half of last year.
