Industry News

Alcoa is optimistic about aluminium usage, citing renewable energy infrastructure as a key factor

Views : 45
Update time : 2024-10-30 15:37:09
Alcoa, an American industrial corporation and the world's eighth-largest producer of aluminium, has reportedly expressed its optimistic outlook on the usage of aluminium to be driven by power grids, energy storage, and solar panels development to support energy transition to renewable energy.

Reiterating the vision, Alcoa's CEO Willian Oplinger states that aluminium is a ready substitute for copper. He asserted: "Alcoa very bullish" on aluminium as the energy transition drives demand growth, including substitution away from copper."

At a conference in Sydney, Willian Oplinger said that demand for copper would surpass the production volume, giving space to aluminium to intrude and substitute copper in some applications.

"Megatrends are driving aluminium demand of 3%, 4%, and 5% every year," said Willian Oplinger.

"Couple that with some supply changes in the industry, for instance the Chinese sticking to a mandatory cap they have put in place ... that shapes up to a much stronger aluminium market globally," he added.

The optimism on aluminium demand is also expressed by Ducab's CEO Mohammed AlMutawa, who thinks aluminium usage in electric vehicles will surge ten-fold to nearly 10 million tonnes by the end of 2030. He also believes the usage of primary aluminium in electric vehicles will supersede scrap metal.

Related News
Read More >>
Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh
Feb .25.2025
Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh
EU expands sanctions on Russian aluminium: industry calls for closing loopholes EU expands sanctions on Russian aluminium: industry calls for closing loopholes
Feb .25.2025
EU expands sanctions on Russian aluminium: industry calls for closing loopholes
Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
Feb .25.2025
Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
Alba announces Ma’aden as a major shareholder Alba announces Ma’aden as a major shareholder
Feb .25.2025
Alba announces Ma’aden as a major shareholder