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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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Russian aluminium producer Rusal is making a calculated entry into the East African market, going into partnership with Ethiopia’s sovereign wealth fund to build an aluminium smelter with capacity for 500,000 tonnes per year
China will expand its national emissions trading system (ETS) to new sectors and introduce absolute carbon caps under an updated climate plan submitted to the UN Framework Convention on Climate Change (UNFCCC) on Monday November 3.
The European Commission has confirmed that indirect emissions will not be included for metals products under the upcoming Carbon Border Adjustment Mechanism (CBAM), while pre-consumer scrap is to become a standalone CBAM product, EU Commission representative Martin Becker said during the European Roundtable on Climate Change and Sustainable Transition (ERCST) webinar on Thursday October 30.
The United Nations Framework Convention on Climate Change (UNFCC) has approved its first methodology under Article 6.4, also known as the Paris Agreement Crediting Mechanism (PACM), the UNFCC announced on Thursday October 30.
Europe is facing a potential green aluminium deficit as production halts in Iceland and Mozambique threaten regional supply. Market analysts warn that the resulting shortage of low-carbon aluminium could reshape trade flows and drive higher premiums through 2026.
The London Metal Exchange (LME) has set out its plan to launch low-carbon base metals price premiums for nickel, aluminium, zinc and copper in a white paper published on Monday October 13.
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