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A $5B hoard of aluminum

229 点作者 iamdeedubs超过 3 年前

10 条评论

wombatmobile超过 3 年前
The aluminum market is a game.<p><a href="https:&#x2F;&#x2F;www.cnbc.com&#x2F;2014&#x2F;06&#x2F;03&#x2F;how-aluminum-became-a-cash-cow-for-goldman.html" rel="nofollow">https:&#x2F;&#x2F;www.cnbc.com&#x2F;2014&#x2F;06&#x2F;03&#x2F;how-aluminum-became-a-cash-c...</a>
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adolph超过 3 年前
<i>the aluminium industry consumed 6% of all global coal-fired electricity in 2019 – more coal-fired electricity than is generated in the whole of Europe – and is actually becoming more reliant on coal at a time when the world is becoming less reliant on coal.</i><p><a href="https:&#x2F;&#x2F;ember-climate.org&#x2F;commentary&#x2F;2020&#x2F;10&#x2F;06&#x2F;aluminium&#x2F;" rel="nofollow">https:&#x2F;&#x2F;ember-climate.org&#x2F;commentary&#x2F;2020&#x2F;10&#x2F;06&#x2F;aluminium&#x2F;</a><p><i>The aluminium sector has a pivotal role to play here. Accounting for 1.1 billion tonnes of CO2 emissions per year, it generates around 2% of global human-caused emissions. Demand for aluminium, an essential material for several key industries including construction, transportation and power transmission, is expected to grow by more than 50% by 2050. As such, emissions must be addressed now.</i><p><a href="https:&#x2F;&#x2F;www.weforum.org&#x2F;agenda&#x2F;2020&#x2F;11&#x2F;the-aluminium-industry-s-carbon-footprint-is-higher-than-most-consumers-expect-heres-what-we-must-do-next&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.weforum.org&#x2F;agenda&#x2F;2020&#x2F;11&#x2F;the-aluminium-industr...</a>
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jaclaz超过 3 年前
Only as a side note&#x2F;curiosity, possibly one of the most valued sets of cutlery Napoleon III owned was an aluminium one:<p><a href="https:&#x2F;&#x2F;history.stackexchange.com&#x2F;questions&#x2F;51115&#x2F;did-napoleon-iii-reserve-a-special-set-of-aluminum-cutlery-for-special-guests" rel="nofollow">https:&#x2F;&#x2F;history.stackexchange.com&#x2F;questions&#x2F;51115&#x2F;did-napole...</a><p>Anyway until the late second half of the 1800&#x27;s, it was considered as valuable as gold, if not more (article in French):<p><a href="https:&#x2F;&#x2F;journals.openedition.org&#x2F;archeosciences&#x2F;560" rel="nofollow">https:&#x2F;&#x2F;journals.openedition.org&#x2F;archeosciences&#x2F;560</a>
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slownews45超过 3 年前
If people are upset by so called &quot;dumping&quot; - can&#x27;t they just let China charge more than they would have for this aluminum?<p>Aluminum has well known fixed costs in smelters, it&#x27;s one of those products they use as an example where it may make economic sense to keep a smelter going (even if incurring losses &#x2F; ) because the cost of shutdown.<p>Ie, a potline may take up to a week just to &quot;turn off&quot; and a huge amount of effort - think a month of full time work + weeks of troubleshooting as annode effect issues, alumina concentration and other bits settle down. Don&#x27;t you basically have to recondition (fully, replace all anodes, dig out the crust) the pots, and even then you may be taking a bit hit on pot life with the cool down &#x2F; reheat cycle?<p>I know the US has &quot;anti dumping&quot; rules regarding sugar as well - which I&#x27;ve been told contributes to a fair bit of corn syrup use.<p>I&#x27;m not that hung-up on the US blocking imports of cheap materials (if that&#x27;s what the US wants to do), but how does the US get some third party country to grab this quantity of metal? Ie, China could sell to other countries that are not as concerned about dumping. For example, why would a poor country without a local smelter even care about &quot;dumping&quot; - it would seem the cheap prices would be a subsidy in effect.
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Physkal超过 3 年前
Why would the aluminum stock not be useful after 10 years, oxidation?
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baybal2超过 3 年前
The industry around the world is running out of aluminium. Aluminium mills are closing all around the globe, except for China.<p>Why? No magnesium. And China don&#x27;t let out its magnesium.
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tokai超过 3 年前
So the &#x27;Buying spree&#x27; graph is apparently showing a surge of import. But it really doesn&#x27;t show anything like that. Or am I just misunderstanding something?
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munificent超过 3 年前
What form is the aluminum in these stockpiles? Bars? Giant cubes? Boullion? I have no idea how unprocessed aluminum is kept around.
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moffkalast超过 3 年前
This is the material supply equivalent of a crypto coin that has 50% of its market cap in one wallet.
shmerl超过 3 年前
Is aluminum running out? Why is there a deficit? The article doesn&#x27;t explain that.
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