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COVID-19 car demand drop drives Aleris to cut production, Norsk Hydro cuts imports

Canada 438 China 2658 Cons. Discr. - Autos 980 Coronavirus 452 European Union 679 Materials - Metals/Mining 646 Metals - Aluminum 199 U.S. 4725 UAE 20

The U.S. automotive industry is experiencing a drop in demand linked to the coronavirus outbreak. In turn that’s acting as a drag on demand for aluminum, leading Aleris among others to scale back production. U.S. imports are also in decline, after previously losing competitiveness due to widespread tariffs. Imports fell by 18.0% year over year in February after falling throughout Q4. The decline was led by a 20.5% slide in shipments from the EU and a 43.0% slump in imports from China. A 20.9% decline in U.S. seaborne imports in March suggests the downturn has continued. Norsk Hydro and E...

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