Metals like aluminum and steel had been relatively unaffected as COVID-19 began to spread in the US, but the shift came as automakers – including The Big 3 and others – announced temporary production stoppages in North America. Auto is a growing demand sector for aluminum.
Another big consumer – the aerospace industry – has been gutted as airlines have slashed flights and Boeing announced a temporary production stoppage in Washington state. A number of states have implemented lockdowns of non-essential businesses, as well.
Chris Davis, Sarah Baltic and Nick Ruggiero of S&P Global Platts examine the aluminum market and where it might be headed.
Commodities Focus