Mexican aluminum industry impacted by lower demand
Views : 216
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.
Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh
EU expands sanctions on Russian aluminium: industry calls for closing loopholes
Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
