Aluminium Ingot Prices, Monitor, Demand & Supply | ChemAnalyst
During the fourth quarter of 2023, Aluminium Ingot prices in North America experienced a downward trend influenced by various factors. Initially, in October, Aluminum Alloy ingot prices in the USA declined due to global macroeconomic pressures, including inflationary trends and construction delays in China. Increased stocks in domestic warehouses compounded the situation, with lower sales further contributing to the downturn. Despite expectations, the Inflation Reduction Act (IRA) failed to stimulate demand, while a UAW strike in the automotive sector dampened demand further, affecting the economic landscape across the country. In early November, prices rebounded slightly as production shifted south, leading to reduced inventory levels. However, uncertainty loomed as potential federal interest rate hikes led to hesitancy in placing orders. Efforts in recycling partially mitigated consumption, and international cooperation on can-capture equipment initiative...