Market Commentary: European aluminium industry performance report 2024
The European aluminium industry needs swift action to keep the region competitive in the wake of high energy prices, expensive raw materials and increased global competition, Paul Voss, director general of industry body European Aluminium, told S&P Global Commodity Insights in an interview at the aluminium trade fair in Dusseldorf on October 8, 2024. "There is a need for a serious shift to competitiveness for the European aluminium industry; we won't sit and wait for someone to solve our problems; we must engage," Voss said.
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According to International Aluminium Institute (IAI) data, the European aluminium industry has steadily declined across the past decade, with Western and Central European primary aluminium production deflating 25.5 per cent from 2010 (production during this year was 3.8 million tonnes) to 2.83 million tonnes in 2024. Meanwhile, primary aluminium production in Russia and Eastern Europe only fell 5.57 per cent (production during calendar year 2024 was 4.16 million tonnes) from 4.25 million tonnes produced in 2010, IAI data showed.
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