The aerospace industry has been hit hard by the Covid-19 pandemic, with companies in the sector forced to take drastic measures to adapt to the new market environment.
Airbus, Europe's largest airline manufacturer, has announced that will
cut production of its core three aircraft models by 30%.
Boeing has also
suspended operations indefinitely at its United States operations in the Puget Sound and Moses Lake areas of Washington state in light of the spread of the coronavirus, US government recommendations and supply chain reliability.
A slowdown in demand is likely to undermine an already weakening aluminium market, although not to the same extent as automakers closures, sources said.
Global demand for the light metal has been stifled, with the coronavirus causing major disruptions to supply chains and, in turn, sending global premiums down.
Fastmarkets assessed the
aluminium P1020A premium, in-whs dp Rotterdam at $90-105 per tonne on Tuesday April 7, down by $10-15 per tonne from $100-120 per tonne on April 3 and the lowest level since January 2010.
In the US,...