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Industrial

Aluminum supply chain

Alumina refining, carbon anodes, and power-hungry smelters for lightweighting.

⚠ Smelter power & alumina refining

Key chokepoints

  • Alumina refining (Bayer process)Refining

    China imports bauxite and refines most alumina; refinery outages tighten global supply.

    Related tickers: AA

  • Smelter electric powerUtilities

    Smelters curtail on power price spikes; Europe lost significant capacity in the energy crisis.

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