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Stainless Espresso: 10 Mio tons of aluminium, stainless steel, steel
Stainless Espresso: 10 Mio tons of aluminium, stainless steel, steel

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.

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