Aluminium is a lightweight industrial metal, which has been experiencing relatively high growth globally, due to demand from new applications such as vehicles (both new energy and conventional) as makers need to reduced weight to enhance fuel efficiency.
It is in high demand in the construction, transportation and consumer packaging sectors, such as windows, aircraft and soft drink cans.
China is the world’s largest producer and consumer of aluminium, accounting for more than half the global total in both.
Aluminium price has been on an uptrend in the past year on the back of the Chinese government policy to rid outdated, inefficient and environmentally polluting production lines, as well as ongoing strong demand.
It remains unclear if the reshuffle and plan by its oligarch owner to relinquish control of Rusal’s parent firm will help it meet US demands to be extricated from imposed sanctions