11 April 2022 – Aluminium, stainless steel and other raw materials are driving renewable energies such as wind and solar. According to current data, 2021 was the second best year for the wind energy industry. Outlook rosy: In 2022, at least 10 million tonnes of ferrous and non-ferrous raw materials will be needed for expansion in Europe alone. Inflation below 3%, China’s economy facing new monetary stimulus?
Impulse: Wind energy with expansion potential
The wind energy industry had the second best year in its history in 2021, according to the latest report by the Global Wind Energy Council (GWEC). Almost 94 gigawatts of production capacity were installed worldwide. And there is huge potential upside. The current expansion of wind energy alone must be increased by a factor of four in order to achieve the goals of the Paris Climate Agreement.
Especially for Europe, which is currently trying to separate itself from Russian energy imports, this is an important point to put its own energy mix on a new footing.
Aluminium, stainless steel: Renewable energies with huge demand for raw materials
But this is also an important impulse for the metal industry. After all, 1 megawatt of renewable energy costs 15 times as much in raw materials such as steel, stainless steel and aluminium as in a conventionally produced plant. With up to 200 tonnes per megawatt, at least 6 million tonnes of ferrous and non-ferrous raw materials could be needed in the European photovoltaic sector alone in 2022, assuming at least 30 GW of new capacity. For the more than 18 GW of planned wind energy, up to another 4 million tonnes of aluminium, stainless steel, steel and copper will be needed.
China: Easing of monetary policy expected
Even though price dynamics may have strengthened slightly, inflation in China is currently expected to remain below the People’s Bank of China’s target of around three percent. A further easing of China’s monetary policy could therefore follow in the near future, which should favour the economy and investment and further boost demand for commodities.
Latest news
- Italy, only who has steel earns money right now
- German steel inventories fall significantly
- Copper with persistent supply deficit
We at the Gerber Group have been trading in stainless steel worldwide for over 20 years. We are your experts when it comes to purchasing, import, logistics and services. Information is a vital part of this. Because only then can you and we make the right decisions. Do you have any questions? Contact us now.
Disclaimer: Many things here represent our opinion. Others are information from the Internet. We can therefore never claim to be correct or complete. And never base a business decision solely on the news you receive from us.
