US aluminum shortage hits truck production as prices near $6,100
The US auto industry is dealing with a major aluminum shortage, and it's hitting truck production hard.
Aluminum demand has shot up 30% since 2020 because it's lightweight and boosts fuel efficiency, but prices have nearly doubled to $6,100 per metric ton this year.
The reasons? A hefty 50% US tariff, supply chain issues from tensions with Iran, and a big production outage at a New York plant.
Ford F-Series slowed by Novelis fires
Ford, the auto industry's biggest aluminum buyer, is really feeling the heat.
Fires at Novelis's New York plant last year cost Ford $2 billion and slowed F-Series truck production, dropping Q1 sales from 190,000 to 160,000 in just one year.
Dealers like Sam Pack say their F-150 inventory is shrinking fast as summer approaches.
Other automakers are also scrambling for alternatives but warn that switching materials isn't a quick fix.