AMU's May aluminum market survey showed lengthier rolled product lead times coupled with shrinking extrusion and primary booking windows, though inventory building and forward demand sentiment remained cautious.
Demand totaled an estimated 26.65 billion pounds in 2025, a year marked by an ever-shifting tariff environment, the association said.
Construction indicators strengthened entering Q2, though most momentum was concentrated in data centers and infrastructure projects.
ACT Research and FTR Intelligence data showed Class 8 truck orders increased sharply in early 2026 even as trailer demand, OEM deliveries and manufacturer shipments remained weaker.
Ball reported modest shipment growth and higher earnings, with North American volumes constrained by limited capacity and strong contract coverage.
Hydro's Q1 results show higher prices supporting margins despite weaker North American demand and ongoing Middle East curtailments.
Ford and GM's results show earnings supported by tariff timing and mix, while volumes, inventory, and cash flow point to a constrained supply and uneven demand.
Aluminum executives say geopolitical tensions are reshaping logistics and trade flows, but demand remains stable as the supply chain adapts to ongoing disruptions.
Kaiser Aluminum reported higher Q1 shipments and conversion revenue, led by aerospace and packaging, and raised its 2026 outlook.
First-quarter earnings show aluminum markets identifying supply risk across value-added products, but not yet experiencing measurable disruption.