A global trend away from internal combustion engine (ICE) vehicles toward electric vehicles (EVs) is likely to adjust end-market metal demand. The shift from ICE to EV is underway, even if the conversion takes decades and falls well short of 100%.
An ICE-to-EV conversion is likely to mean new opportunities for aluminum sheet but may negatively affect the cast-aluminum industry. A July 2020 Reuters article quotes CRU’s James Wren as estimating the average amount of aluminum used in EVs is 30% higher than ICE cars.
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