Mcalloys

  Demand for aluminium around the world over the course of 2023 has been – to put it mildly – disappointing, and recent data has supported this conclusion. The LME aluminium price has declined by around 7% over the course of 2023, with prices trending sideways for months now as power costs have helped fend off further declines. Given a combination of China’s sluggish recovery from COVID-19 lockdowns, and stagnant economic growth in Europe and the United States, this situation is sadly not overly surprising. Could, however, the green sector be a source of hope for the global aluminium market? The prospect has been raised by Dutch financial services group ING**, which has signalled its belief that the rising rates of electric vehicle (EV) adoption and environmentally friendly infrastructure investments could help counteract the fall in demand for the lightweight metal in the more “traditional” industries this year. There could be reason for hope for aluminium, away from tradi...