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    Home > Chemicals Industry > Chemical Technology > Bank of America: The aluminum supply gap will rise to 2.7 million tons in 2024

    Bank of America: The aluminum supply gap will rise to 2.7 million tons in 2024

    • Last Update: 2022-11-28
    • Source: Internet
    • Author: User
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    According to the news released by foreign media on January 8, Bank of America (BofA) analysts said that 650,000 tons of aluminum production capacity has been cut
    so far due to high energy costs.
    At the same time, there is another 950,000 tons of aluminum capacity, which may also face a full or partial closure
    for the same reason.

    Analysts at Bank of America say energy typically accounts for about
    40 percent of aluminum smelter operating costs.
    At present, the soaring energy prices in Europe, especially in Europe, have greatly affected the local aluminum smelting capacity
    .

    In addition, in 2021, the reduction of production in China, the world's number one aluminum producer, has caused a gap
    in global aluminum supply and demand in 2021.
    Bank of America predicts that the aluminum supply gap will rise to 2.
    7 million tons in 2024, when the price of aluminum will reach $
    3,500 per tonne.

    According to the news released by foreign media on January 8, Bank of America (BofA) analysts said that 650,000 tons of aluminum production capacity has been cut
    so far due to high energy costs.
    At the same time, there is another 950,000 tons of aluminum capacity, which may also face a full or partial closure
    for the same reason.

    aluminium

    Analysts at Bank of America say energy typically accounts for about
    40 percent of aluminum smelter operating costs.
    At present, the soaring energy prices in Europe, especially in Europe, have greatly affected the local aluminum smelting capacity
    .

    In addition, in 2021, the reduction of production in China, the world's number one aluminum producer, has caused a gap
    in global aluminum supply and demand in 2021.
    Bank of America predicts that the aluminum supply gap will rise to 2.
    7 million tons in 2024, when the price of aluminum will reach $
    3,500 per tonne.

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