Novelis: Automotive aluminum sheet demand in North America recovers in Jul
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Update time : 2020-08-18 16:33:53
According to the CEO of Novelis Inc., the largest automotive aluminum sheet supplier in the world, the demand for automotive aluminum sheet in North America has been recovering gradually in July, with sales volume back to the level before the COVID-19 epidemic.
However, Novelis said it couldn’t give production guidance and financial forecasts for the second half of this year due to an uncertain outlook for demands.
IHS Markit estimated that North American auto production in 2021 will rise by 15% year on year to 14.6 million units.
Miles Prosser, Secretary General of International Aluminium Institute (IAI) said that the global aluminum demand was expected to decrease by 5.4% year on year in 2020, mainly due to the epidemic. However, the IAI saw that global aluminum demand will grow strongly in the medium term, driven by the government’s investment in infrastructure, construction, automobile sectors, and so on.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
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