Unwrought non-alloyed aluminium (primary aluminium ingot) is a foundational industrial metal produced via electrolytic reduction of alumina, making it highly sensitive to electricity costs and energy policy. China dominates global smelting capacity, creating significant supply concentration risk and making country-of-origin declarations critical for tariff and sanctions compliance, particularly under US Section 232 measures and the EU Carbon Border Adjustment Mechanism (CBAM). Prices are benchmarked against LME aluminium and subject to high volatility driven by energy markets, trade policy shifts, and downstream demand from automotive, construction, and green energy sectors.
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