By Greg Wittbecker, Advisor, CRU Analysis China has staked out ambitious goals to decarbonize its overall economy. President Xi has said that CO2 emissions will peak before 2030 and that China will be carbon neutral by 2060. The Macro-economic Perspective China generates 28% of global CO2 emissions. Its energy-related emissions are 15% of the world’s […]
By Greg Wittbecker, Advisor, CRU Analysis The grounding of the MV Ever Given in the Suez Canal has multiple repercussions on the global maritime supply chain, but it is especially acute for the aluminum market. Gulf Region Production is Important The Gulf Region in terms of aluminum production comprises Bahrain, Oman, Qatar, Saudi Arabia and […]
By CRU Analysis Advisor Greg Wittbecker Environmental, social and governance (ESG) is now core to most major corporations. Companies that don’t put strong emphasis on this do so at their peril. Many companies are using ESG as an opportunity to create competitive advantage. These advantages are coming through several approaches. Sustainable Production Sustainability can be […]
By CRU Advisor Greg Wittbecker Buyers of aluminum have been spoiled since the global financial crisis by persistent surpluses and relatively benign price action. That is changing. Inventories are Depleting and What Remains is in Strong Hands Global inventories expressed in days of global consumption stood at 78 days ending 2020. This compares to 114 […]
By CRU Analysis Advisor Greg Wittbecker In January 2016, Bitcoin was trading at 450 to the U.S. dollar. Recent prices hit over 58,000 and are now trading around 48,000. There are investment advisors suggesting cryptocurrencies should be part of investors’ portfolios. It appears that Bitcoin and its imitators are going mainstream. While this fascination with […]
By CRU Analysis Advisor Greg Wittbecker Ford announced in February that it would be all electric in Europe by 2030. This comes on the heels of General Motors stopping production of internal combustion engines (ICE) by 2035. These decisions underscore the shifting landscape in key aluminum applications and use within automotive. Die-castings have always been […]
By Greg Wittbecker, Advisor, CRU Analysis Like the steel industry, the aluminum industry has long recognized the economic value of scrap. Every time virgin aluminum prices have risen, buyers have accelerated substitution of scrap for virgin metal. Now, economic sensibility has been married to the new focus on sustainability. Consumer-facing market segments are leading the […]
By Greg Wittbecker, Advisor, CRU Analysis Primary aluminum prices are on a roll in China and the World ex China. The Shanghai Metal Exchange (SHFE) spot price is 18,425 RMB or $2,825 per metric ton. Even adjusting out the 13% Value-Added-Tax (VAT) embedded in that price, it’s still a 10-year high of $2,500 per metric […]