Factor 1 high demand for transportation

FACTOR 1

HIGH DEMAND FOR TRANSPORTATION

Transportation market amounts to 27 % of all aluminum usage
The sales of electric cars between 2018 and 2022 increased the cost of aluminum to $2700 US dollars.
Aluminum is used in the batteries of electric cars in order to increase charging efficiency
(Statista.com)

FACTOR 2

THE PRICE OF COAL

In 2017, as a result of growing coal prices China's aluminum makers saw a rise in the cost of production, the average product prices at aluminum companies grew by 22% from the early-year level .
After aluminum prices declined as reduced coal prices contributed to lower manufacturing costs in October 2021, the cost spiked late December, surpassing the peaks reached in October. (news.metal.com)