China & United States: largest aluminum producers
The second factor seriously impacting markets in 2023—and likely to cause turmoil for decades—is the friction between China and the United States, the two largest economies in the world and the number one producer of primary aluminum and the number nine producer respectively. A power crunch in China during 2022 already caused production shortfalls in primary aluminum which led to shortages felt globally. These power generation shortfalls were largely due to trade friction between China and its trade partners, namely Australia, which saw interruptions in coal supplies that led to power rationing in China and shutdowns in industrial sectors like aluminum production. - Industrial Metal Service
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