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Aluminium is a critical mineral that plays a pivotal role in driving the energy transition, particularly because of its use in low-carbon technologies. This includes powering wind turbines, batteries, electrolyzers for renewable hydrogen, carbon storage for low-carbon hydrogen, transmission wires, hydroelectric plants and solar photovoltaic (PV) technologies.
The demand for low-carbon aluminium is notably steered by industries like automotive, packaging, energy and consumer products, all actively trying to reduce the carbon impact of their operations. Aluminium is one of the world’s top eight hard-to-abate industries so lowering the carbon footprint of aluminium is essential for decarbonization efforts.
Read more about how the US looks to decarbonize the aluminium industry, spurred by policy and demand here.
Fastmarkets defines green aluminium as primary aluminium having a carbon footprint of maximum 4 tonnes of CO2 equivalent (4tCO2e) per tonne of aluminium produced under Scope 1 and Scope 2 emissions. The definition does not include scrap content as there is no globally accepted definition of low-carbon aluminium scrap. Fastmarkets spearheaded green aluminium pricing with its launch of low-carbon aluminium differentials in March 2021. Today, Fastmarkets has low-carbon aluminium differentials for Europe, the US and Asia.
By leveraging Fastmarkets’ comprehensive analysis and real-time updates, customers gain a competitive edge in this rapidly-evolving market. Whether you’re looking to optimize your supply chain, monitor price fluctuations or capitalize on emerging innovations, Fastmarkets equips customers with the essential knowledge to navigate this market. Find out more today.
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Understand more about the role of aluminium in renewable energy with price trends, market insights and forecasts from our global team of reporters, editors and analysts.
Explore the world of green aluminum as we uncover its role in advancing sustainability. Discover what this means for industry professionals, buyers, traders, and manufacturers, and see how it can reshape our future
The aluminium producer Hydro has been focusing its research and development (R&D) efforts in the US on increasing its recycling-based extrusion ingot production, Hydro Aluminium Metals USA president Duncan Pitchford told Fastmarkets.
The Western world’s industrial strength is beginning to drop, but Jakob Stausholm, chief executive officer of Rio Tinto, said at a London Metal Exchange seminar that there was “plenty of demand to be unlocked from reindustrialization.”
Read the full transcript from episode 6 of Fast Forward podcast on trading power and the role of the London Metal Exchange (LME) in the energy transition with CEO Matthew Chamberlain.
Although some sectors are still reluctant to pay more for green aluminium, it’s important to have differential premiums for low-carbon products because they can increase awareness about the green agenda, chief executive officer of Brazil’s Companhia Brasileira de Alumínio (CBA) told Fastmarkets during an interview.
The US government will impose tariffs on steel and aluminium shipped from Mexico that were made elsewhere, in a bid to curb trans-shipment and excess production, the White House said in a statement on Wednesday July 10, a move widely applauded by the pair of metals industries
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