Home > News > Others

Analysts: Aluminum supply gap to widen to 2.7 million tons by 2024

Thursday, Jan 13, 2022

   Commerzbank commodities analyst Daniel Briesemann said that more and more aluminum smelters might reduce their production before the spring due to surging energy prices in Europe and Asia, which hiked aluminum prices.

  According to analysts at Bank of America, energy typically accounts for around 40% of aluminum smelters’ operating costs. The annual production of aluminum is approximately 68 million tons. China, the major aluminum producer in the world, cut its production last year, which resulted in a gap between the global aluminum supply and demand.
  Bank of America forecasted that the supply gap will widen to 2.7 million tons by 2024, and aluminum prices will reach roughly US$3,500 per ton at that time.

Recommended exhibitions

Notice of Postponement of ALUMINIUM CHINA & Lightweight Asia
Notice of Postponement of ALUMINIUM CHINA & Lightweight Asia 2020......
China Lightweight Vehicle Summit 2018
China’s automobile industry development has faced with enormous pressure on energy and environmental protection. In ord......
Aluminum company promises to hire 550 in heart of Appalachia
An aluminum company says it will build a $1.3 billion plant in the heart of Appalachia, promising to hire 550 people and......
Aluminium China 2017 to Drive Industry Transformation in Lig
This year’s Aluminium China in Shanghai from 19-21 July is set to mark a new period of growth in the aluminium industry......