Overseas Aluminium Smelters Buckled under the Weight of Soaring Energy Prices and Strike

SHANGHAI, Oct 13 (SMM) -  According to SMM statistics, the global installed aluminoum production capacity totals about 79.28 million mt, of which China accounts for about 56% while the rest of Asia accounts for about 16.5%. The installed aluminoum production capacity in Europe stands at 10.35 million mt, accounting for about 13% of the global total. North America makes up about 6% of the global installed aluminoum production capacity.

According to SMM statistics, a combined 1.67 million mt of aluminium capacity has been cut in Europe and North America since August due to strike by workers and soaring energy prices, including 1.36 million mt in Europe, accounting for 13.18% of the installed capacity in the region, and 304,000 mt in North America, representing 6.2% of the region’s installed capacity.

On the whole, the production of aluminoum has been constrained recently, and the supply side may still face a potential reduction. The LME’s possible ban on Russian metals has also worried the market.