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Third quarter Europe aluminum foil demand decline, market trading calm!
2019-12-17 14:51:47
In the three months to the end of September, the aluminium foil trade in Europe has been in a quiet trading period due to continued uncertainty in global markets in general and the ongoing trade war between China and the us.According to data released by the European aluminum foil association (EAFA), total demand fell 2.2 percent in the third quarter to 228,685 tons (from 233,727 tons in 2018), while total production so far this year (YTD) data showed little change at 714,251 tons. The decline was mainly due to slowing demand for thinner aluminium foil products, mainly used in soft packaging and household foils, down 1.9 per cent so far this year.Data for the third quarter showed a 4.4 per cent decline, continuing a slight decline in the previous six months.But this was offset by a 2 per cent increase in the volume of slightly thicker products, typically used in semi-rigid containers, technology or other applications, continuing the trend of the previous two quarters. Reflecting continuing global trade uncertainty, European exports fell a modest 0.8 percent last quarter, but are still up 21.4 percent so far in 2018. "It is extremely difficult to predict demand in the current market," says Bruno Rea, President of the European aluminium foil association.He added: "European demand for aluminium foil was generally weak throughout 2019 due to increased Chinese exports, but there were some bright spots, particularly the steady performance of thicker products and strong export volumes." "We are optimistic -- normally the last quarter of the year is a good opportunity for the industry, with customers likely to delay restocking for the upcoming holiday season until later in the year.""So, given that orders are almost flat with 2018, which itself was an industry record, we believe this is a very resilient performance in unpredictable times," he explained.

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