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Aluminum industry in Germany: dramatic development in 2023 - outlook for 2024 worrying
According to a report by recyclingportal.eu, Germany's aluminum industry is in a serious crisis. Production is recording significant declines, especially in primary production, which has fallen by 45 percent. This is due to high energy costs and the weak economy. Companies are also facing increasing competition from importers from third countries where environmental, social and ethical standards are lower. The impact of this crisis on the market is significant. The aluminum industry's drastic production declines not only have a direct impact on employment and the economy, but also on the entire supply chain. In addition, Germany is losing its position as...
Aluminum industry in Germany: dramatic development in 2023 - outlook for 2024 worrying
According to a report by recyclingportal.eu, Germany's aluminum industry is in a serious crisis. Production is recording significant declines, especially in primary production, which has fallen by 45 percent. This is due to high energy costs and the weak economy. Companies are also facing increasing competition from importers from third countries where environmental, social and ethical standards are lower.
The impact of this crisis on the market is significant. The aluminum industry's drastic production declines not only have a direct impact on employment and the economy, but also on the entire supply chain. In addition, Germany is losing its position as the largest primary aluminum producer in the EU. The closure of one of the remaining four German aluminum smelters shows the severity of the situation.
The outlook for 2024 is also bleak, with Aluminum Germany (AD) member companies concerned about the lack of appreciation and political support for industrial prosperity. Over-regulation and additional burdens are putting further pressure on companies.
Overall, it is to be feared that the crisis in the aluminum industry in Germany will have a negative impact on the entire industrial and labor market. The urgent need for smart energy and economic policies to support the industry will be critical in the coming years.
Read the source article at recyclingportal.eu