New aluminum orders dive 24% in Nov.
Dec 16, 2008 | 10:29 AM
| Tom Jennemann
New orders of aluminum products fell by a "massive" amount in November, statistics from the Aluminum Association showed, in perhaps the strongest indication to date of the fall-off in demand faced by the industry.
Net new aluminum orders excluding can stock in the United States and Canada fell 23.7 percent year-over-year, according to statistics released Monday by the Arlington, Va.-based trade association.
Additionally, total orders minus canstock in November were down 17.3 percent vs. October and down 4.4 percent in the first 11 months of the year.
The segments that plummeted the most were those that are used heavily in automobile manufacturing. Forging impacts fell 47.4 percent compared with November 2007, and slumped 32.2 percent from October this year. Plate and sheet orders dipped 27.4 percent year-over-year and declined 19.4 percent from October. Extruded products were down 22.8 percent vs. the same month last year and off 16.9 percent compared with October. ....
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