Alcoa Optimistic on Aluminium Demand Amid Energy Transition

Alcoa is "very bullish" on the outlook for aluminium as the energy transition drives increased demand, including a shift away from copper, CEO William Oplinger said on Wednesday. Speaking at a conference in Sydney, Oplinger highlighted that demand growth will be largely driven by the energy transition, with aluminium increasingly substituting for copper in certain applications where copper supply cannot keep up.

Oplinger pointed out that megatrends, such as electrification and the push for greener technologies, are propelling aluminium demand growth at rates of 3%, 4%, and 5% annually. He added that these trends, combined with changes in supply—specifically, China’s adherence to a mandatory production cap—are setting the stage for a much stronger global aluminium market.