For the Quarter Ending March 2025
North America
In Q1 2025, the Aluminium Sheet market in North America displayed a positive upward trend, closing at USD 5400/MT for AL Sheet (1100-H14-0.8 mm) CFR New York (USA). This reflects a slight increase compared to Q4 2024, driven by various market dynamics amid ongoing policy impacts and evolving demand levels.
January began with stable prices as the 25% tariff on aluminum imports reshaped market conditions, increasing demand for locally sourced scrap aluminum. However, prices rose by 2.5% in February due to heightened buyer activity before the tariffs took effect on March 12, coupled with worries about limited domestic production capacity. The decline in bauxite shipments exacerbated supply concerns, leading importers to rush for materials ahead of the tariffs.
By March, Aluminium Sheet prices further increased by 3%, reflecting a tightening supply situation and the ongoing effects of the tariffs. Despite stabilization from stockpiling scrap aluminum, demand faced challenges from a sluggish overall market, attributed to weak consumer confidence and ongoing economic uncertainties. The quarter-ending price for Aluminium Sheet underscoring the complexities market participants navigate, particularly relating to policy changes, fluctuating material availability, and mixed demand signals across key sectors.
Europe
In Q1 2025, the Aluminium Sheet market in Europe exhibited a slight upward trend, ending the quarter at USD 12,777/MT for Aluminium Sheet (2 mm-AW-2017A) FD-Koblenz (Germany). This reflects a modest increase compared to Q4 2024, driven by a combination of supply constraints and fluctuating demand levels. January began with stability in prices, influenced by regulatory changes linked to the EU’s proposal to phase out Russian aluminium imports, which created sourcing uncertainties. By February, prices rose by 2.5%, propelled by a tightening supply situation and optimism within the automotive industry, despite ongoing struggles in construction. The decline in primary aluminium inventories and reduced bauxite shipments contributed to this price pressure. March saw further price increases of 2.0%, aided by signs of recovery in automotive and construction sectors. However, demand remained moderate overall, driven mainly by deferred purchases and high inventory levels. Supply still faces challenges from US tariffs and elevated energy costs in Europe, which continue to strain competitiveness. The quarter-ending price for Aluminium Sheet highlighting the complexities the market faces, including fluctuating demand dynamics, regulatory influences, and international supply chain challenges. These factors create an environment where continuous vigilance is essential for market participants.
APAC
In Q1 2025, the Aluminium Sheet market in the APAC region showed volatility, culminating in a quarter-ending price of USD 3130/MT for Aluminium Alloy Sheet (Al 1100) CFR Klang Port (Malaysia). While prices remained stable compared to Q4 2024, the first quarter went through fluctuations driven by supply dynamics and demand shifts influenced by the construction sector. Early January saw stability in aluminium sheet prices, supported by steady demand from the construction sector and private investments. However, in February, prices increased by 2% due to seasonal effects and reduced output in China, which bolstered confidence among buyers. This was coupled with a notable rise in business optimism, as construction confidence indicators improved significantly. March experienced a downturn as prices dropped by 3%, reflecting improved raw material supply and weak demand from manufacturers opting to deplete existing inventories. Economic uncertainties and global trade tensions affected the overall demand for aluminium sheets, particularly in the construction and manufacturing sectors. The quarter-ending price for Aluminium Alloy Sheet stood at USD 3130/MT, highlighting the challenges market participants are facing amid fluctuating supply dynamics, shifting demand, and potential volatility in production costs. This evolving landscape represents both opportunities and risks for stakeholders in the market.
MEA
In Q1 2025, the Aluminium Sheet market in Europe experienced an upward trend, closing the quarter at USD 3,240/MT for Aluminium Alloy Sheet (Al 1100) CFR Mina Jebel Ali (United Arab Emirates). This represents a slight increase compared to Q4 2024, as the market navigated through a complex landscape marked by supply and demand dynamics. January witnessed stable prices, primarily influenced by steady supply from China despite some reductions in production capacity. Positive signals from the automotive and construction sectors contributed to a moderate increase in demand. However, February saw a 2% price hike, driven by tighter supply conditions and optimism stemming from increased activity in the automotive industry. By March, prices fluctuated slightly, reflecting pressures from oversupply and concerns about deferred purchases amidst cautious market sentiment. While global aluminum supply remained strong, challenges such as increased production costs and competitive pressures lingered, potentially hampering price recovery. The quarter-ending price for Aluminium Alloy Sheet indicating the complexities the market faces, including fluctuating demand, regulatory impacts, and evolving supply-chain challenges. Participants must navigate these dynamics carefully to capitalize on emerging opportunities while addressing inherent risks in the market.
For the Quarter Ending December 2024
North America
In Q4 2024, the Aluminium sheet market in North America encountered significant fluctuations, marked by a 2% price decrease in October and a further decline of 6% in November. By December, prices stabilized despite rising global aluminium production and soaring alumina prices. The combination of easing economic conditions and external disruptions, like hurricane impacts and international demand fluctuations, has shaped this quarter's market dynamics.
Supply challenges surfaced as manufacturers offered discounts to address the oversupply situation within the Aluminium sheet market. The production of bauxite and alumina remained constrained, influenced by logistical issues and decreased shipments from key production hubs. Positive indicators emerged in automotive sales, which witnessed a robust increase of 12.8% month-over-month, bolstered by ongoing construction activity that recorded a 4.6% year-over-year rise.
The quarter-ending price for AL Sheet (1100-H14-0.8 mm) DEL New York stood at USD 5,325/MT. Throughout Q4, prices reflected a downward trajectory followed by stabilization in December, driven by heightened inflationary pressures and supply-demand imbalances. Looking ahead, stakeholders face challenges that include fluctuating raw material costs and cautious consumer behaviour in a market influenced by ongoing economic uncertainties and potential regulatory changes.
Europe
In Q4 2024, the European Aluminium sheet market faced significant challenges characterized by a combination of subdued demand, production declines, and external pressures affecting pricing dynamics. Prices for aluminium sheets in Germany remained stable throughout the quarter, despite a 2% decrease in October and stable prices in subsequent months. The construction sector, vital for aluminium sheet consumption, continued to experience contraction, influencing overall market conditions. Manufacturing dynamics revealed that the German aluminium industry is under strain, with ongoing declines in production volumes leading to diminished availability of aluminium semi-finished products. The Manufacturing Index pointed to contraction, indicating a decrease in output, new orders, and employment levels. Several key factors, such as soaring alumina prices and logistical disruptions, were significant drivers of cost pressures, alongside political uncertainties and weaker economic prospects. The quarter-ending price for Aluminium Sheet (2 mm-AW-2017A) FD-Koblenz stood at USD 12,135/MT. Throughout Q4, pricing trends show stability amidst a backdrop of adverse economic conditions and seasonally affected demand. As manufacturers navigate these complexities, they continue to face headwinds from rising operational costs, weak demand from construction and manufacturing sectors, and fluctuating input prices, posing challenges for growth in 2025.
APAC
The Aluminium sheet market in the APAC region exhibited stability in Q4 2024, with prices maintaining equilibrium despite fluctuating production dynamics. The pricing trend showed a notable resilience with price points supported by robust demand from the automotive sector. A healthy increase in vehicle sales, aided by government incentives, underpinned continued consumption of aluminium sheets, while alumina supply constraints helped stabilize pricing despite broader market adjustments. In October, prices rose amidst increased economic activity following the lifting of air pollution advisories in northern China, enabling alumina producers to resume normal operations. However, prices remained stable in November as bauxite supply issues emerged alongside strong alumina prices, cushioning any potential declines. December continued this trend, with production cuts in key regions like Sichuan and Guangxi contributing to a complex supply environment. The quarter-ending price for Aluminium Sheet (3004-1 mm) Ex Shanghai stood at USD 3,044/MT. Overall, Q4 pricing trends reflected stability, driven by solid automotive demand and strategic adjustments to supply amidst seasonal pressures. Looking ahead, market participants must navigate ongoing supply chain challenges and potential shifts in demand as seasonal patterns evolve, indicative of a market in transition with cautious optimism for the coming year.
MEA
In Q4 2024, the Aluminium sheet market in the UAE displayed resilience amidst fluctuating economic conditions. Prices increased by 3.2% in October, driven by strong demand from the construction sector, though they stabilized in November due to low consumption levels causing slight inventory increases in the spot market. By December, prices remained unchanged, reflecting the overall strength in the non-oil sector, underpinned by a rising Purchasing Managers' Index. The market dynamics were shaped by a balance between supply and demand, with elevated inventories in China influencing global pricing trends. The UAE's construction sector remained robust, bolstered by a Construction Sentiment Index score of +55%, although growth in new orders showed signs of slowing. Concurrently, companies faced rising costs for inputs, leading to competitive pressures that affected pricing strategies. The quarter-ending price for Aluminium Alloy Sheet (Al 1100) CFR Mina Jebel Ali stood at USD 3,206/MT. Throughout Q4, pricing trends showed initial increases followed by stabilization, highlighting both the positive demand landscape and the challenges of cost inflation and inventory management. Looking ahead, market participants must navigate these complexities while sustaining momentum in both local and export markets.
For the Quarter Ending September 2024
North America
The Aluminium Sheet market in North America witnessed a quarter of increasing prices in Q3 2024. This uptrend was influenced by a combination of supply constraints and resilient demand. Global factors such as high aluminium production levels and a surplus in the market were offset by localized disruptions in production and supply chains.
Weakness in manufacturing activity and lower-than-expected growth in green energy initiatives contributed to subdued demand, but the market remained buoyed by steady consumption from critical sectors. Additionally, the construction sector is gaining momentum, evidenced by rising home builder confidence in September due to lower mortgage rates from Federal Reserve cuts, stimulating construction activity and boosting aluminium demand. Furthermore, the market for sustainable aluminium is growing significantly, reflecting changing consumer preferences and industrial practices, further enhancing the overall demand landscape.
The USA, experiencing the most significant price changes, saw a mix of factors impacting prices, including supply challenges and fluctuating demand. Seasonal trends and market dynamics led to a stable first half followed by a price increase in the second half of the quarter. The quarter concluded with Aluminium Sheet priced at USD 5542/MT CFR New York, reflecting a positive pricing environment characterized by gradual price appreciation amidst a challenging market landscape.
Asia-Pacific
The APAC aluminium sheet market in Q3 2024 demonstrated mixed performance across key markets, with China and Malaysia showing varying trends in demand and pricing dynamics. China maintained stability in its spot market despite raw material fluctuations, with recycled aluminium operating rates holding steady at 53.6%. The market benefited from Rusal's increased production and shipments, though export demands faced headwinds.
China's manufacturing PMI contracted to 49.8%, indicating subdued consumer demand, yet showed promise in construction and real estate sectors following stimulus measures. The reopening of southwestern smelters, as power restrictions eased, contributed to inventory buildup, while rising alumina costs pressured production economics. Malaysia's market remained heavily influenced by China's export patterns. Despite global supply constraints, domestic demand weakened, particularly in the automotive sector, with Proton reporting a 9.1% year-on-year sales decline.
However, positive indicators emerged, including increased employment and easing inflation, suggesting potential recovery. The quarter recorded a modest decrease of 3% from the previous quarter. The quarter ended with prices at USD 2983/MT of Aluminium Sheet (3004-1 mm) FOB Tianjin (China), reflecting the overall downward trajectory in pricing for the region.
Europe
Throughout Q3 2024, the Aluminium Sheet market in Europe experienced a notable uptrend in prices, with Germany showcasing the most significant price changes. This increase was influenced by several key factors. Firstly, a surge in demand from the aviation sector, particularly driven by large orders from major airlines, played a crucial role in boosting prices.
Additionally, supply constraints in global alumina and bauxite resources heightened production costs, further supporting the price surge. In Germany specifically, the market saw a balanced supply situation, with the commissioning of a new aluminium billet casting line in a neighbouring country contributing to improved regional supply capabilities.
Despite challenges in the manufacturing sector, the overall trend in Europe indicated a positive outlook for Aluminium Sheet prices. The quarter recorded a 3% price increase from the previous quarter, with a notable 7% price difference between the first and second halves of the quarter. Ultimately, the quarter ended with Aluminium Sheet priced at USD 12557/MT FD-Koblenz in Germany, reflecting a bullish pricing environment.
MEA
In Q3 2024, the Aluminium Sheet market in the MEA region witnessed a significant decrease in prices, influenced by several key factors. Global challenges such as international sanctions on raw materials, geopolitical tensions, disruptions in nickel production, and shipping crises in the Red Sea all contributed to a complex and challenging supply landscape.
This led to high supply levels and downward pressure on prices. Demand remained low, with sluggish activity in the construction sector and subdued international interest in the region's products. The aftermath of natural disasters and supply chain disruptions further dampened demand, resulting in decreased sales volumes and increased backlogs of work. Within the United Arab Emirates specifically, the market experienced the most significant price changes, with a negative correlation in price trends. Seasonal fluctuations, along with high inventories and weak trading activities, influenced the downward price trajectory.
The quarter saw a 2% decrease from the previous quarter and a 1% decline between the first and second half. The quarter-ending price for Aluminium Alloy Sheet (Al 1100) at USD 3112/MT CFR Mina Jebel Ali highlighted the overall decreasing sentiment in the pricing environment. No plant shutdowns were observed during the quarter, further contributing to the stable but negative market conditions.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Aluminium Sheet market experienced a notable uptrend in prices, driven by a confluence of supply constraints and robust demand. The quarter was marked by significant factors such as raw material shortages, particularly bauxite, and increased shipping costs, both of which exacerbated the pricing pressures. Additionally, economic instability, inflation, and high-interest rates contributed to the overall escalation in aluminium sheet prices. Inventories remained low as demand from downstream sectors like automotive and construction surged, further tightening the supply-demand balance.
Focusing on the USA, the nation witnessed the most pronounced price changes within the region. The overall trend for aluminium sheets remained upward, driven by seasonal demand spikes and consistent purchasing activities across various industries. The correlation in price changes was evident as high demand coupled with limited supply pushed prices up. The price increase from the previous quarter was recorded at 12%, reflecting a significant uplift in market sentiment.
The latest quarter-ending price for aluminium sheets was USD 5555/MT CFR New York. This price reflects a positive pricing environment, supported by ongoing demand and constrained supply. The market's increasing sentiment was further bolstered by disruptions such as Rio Tinto's force majeure declaration on alumina exports, which heightened supply concerns. Overall, the pricing environment in Q2 2024 for the North American Aluminium Sheet market was predominantly positive, characterized by strong demand and supply-side challenges.
Europe
In Q2 2024, the Aluminium Sheet market in Europe exhibited stable pricing dynamics. This stability was underpinned by a confluence of balanced supply-demand factors, a recovering automotive sector, and moderate but consistent demand from the construction industry. Limited raw material availability and heightened production costs, exacerbated by increased energy and shipping expenses, played a significant role in maintaining this equilibrium. Despite these cost pressures, manufacturers were able to manage their supply chains effectively, avoiding substantial disruptions or plant shutdowns.
Germany, however, experienced the most significant price movements within Europe. The German market saw a 4% increase from the previous quarter in 2024, driven primarily by strong demand in the automotive sector, which benefitted from a notable uptick in new car registrations. Additionally, the manufacturing sector in Germany showed encouraging signs of growth, leading to increased consumption of aluminium sheets. Seasonality also played a role, with stable demand patterns observed throughout the quarter. The overall trend indicated a gradual recovery in industrial activities, which supported stable pricing.
The correlation in price changes across different sectors highlighted a synchronized recovery, particularly in the automotive and manufacturing industries. This stable sentiment was reflected in the quarter-ending price of USD 11850/MT for Aluminium Sheet (2 mm-AW-2017A) FD-Koblenz, Germany. The overall pricing environment in Q2 2024 remained stable, with no significant disruptions or plant shutdowns reported, ensuring a consistent and positive outlook for the aluminium sheet market in Europe.
APAC
In Q2 2024, the Aluminium Sheet market in the APAC region has experienced a notable upward trajectory in pricing, driven by a confluence of factors. Supply constraints have played a pivotal role, exacerbated by seasonal disruptions such as the Dragon Boat Festival leading to fewer working days and operational challenges. Additionally, geopolitical tensions, including tariff implications and regulatory changes, have further strained supply chains. Freight costs have surged due to external factors like the Red Sea crisis and increased shipping expenses from the Mediterranean to East Asia, compounding cost pressures. These supply-side issues have been met with rising demand across key sectors, notably automotive, construction, and infrastructure, which have robustly bounced back post-pandemic, fuelling heightened purchasing activities and inflating prices.
South Korea has witnessed the maximum price changes this quarter, underscoring an increasing trend. The manufacturing sector faced significant import pressures, navigating the influx of low-cost goods from neighbouring markets and a weakened yen. Despite these challenges, the domestic market saw a surge in Aluminium Sheet demand, primarily from the construction and automobile sectors, which have shown remarkable resilience. Seasonality factors, including the impact of Lunar New Year holidays, contributed to fluctuating inventory levels and delivery timelines, further influencing the price dynamics. Compared to the previous quarter, there was a substantial 12% increase in Aluminium Sheet prices, reflecting a strong market rebound.
The quarter concluded on a strong note, with Aluminium Alloy Sheet (Al 1100) FOB Busan in South Korea priced at USD 3556/MT, indicating a positive pricing environment throughout Q2 2024. This consistent upward momentum highlights the robust market fundamentals and resilient demand driving the Aluminium Sheet sector in the region.
