Mexican aluminum industry impacted by lower demand
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Update time : 2020-08-05 19:31:02
Aluminum is one of the most useful materials for many appliances, such as domestic utensils, auto parts, etc. According to the National Chamber of the Aluminum Industry (CANALUM) of Mexico, this country could manufacture until 2.5 million tons of aluminum products per year.
Among the aforementioned statistics, 450,000 tons were for the US; and, and 600,000 tons were for Latin America, Europe, and Asia.
For the moment, through the USMCA (United States-Mexico-Canada Agreement), the US president, Donald Trump, has removed the Mexican steel and aluminum products from the list of Section 232, but it seemed the crisis for this industry in Mexico remained still.
Regarding this, the president of CANALUM, Ramón Beltrán, asseverated this dilemma came from the collapse of their main customers’ demands, particularly in the automotive, construction, and aeronautic industries. It’s been calculated that the demands could fall down by 40% in comparison with last year.
US primary aluminium production shows a 4% monthly rebound in October, but no positive change seen in YTD output
